Rafferty Asset Management LLC Has $2.97 Million Stock Position in Invesco Ltd. (NYSE:IVZ)

Rafferty Asset Management LLC increased its stake in shares of Invesco Ltd. (NYSE:IVZ) by 1.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 170,159 shares of the asset manager’s stock after buying an additional 3,022 shares during the period. Rafferty Asset Management LLC’s holdings in Invesco were worth $2,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IVZ. Colonial Trust Co SC bought a new position in shares of Invesco in the 4th quarter valued at about $38,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Invesco by 180.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 1,531 shares during the last quarter. Crews Bank & Trust bought a new position in shares of Invesco in the 4th quarter valued at about $44,000. Resona Asset Management Co. Ltd. bought a new position in shares of Invesco in the 4th quarter valued at about $52,000. Finally, Assetmark Inc. boosted its stake in shares of Invesco by 381.5% in the 4th quarter. Assetmark Inc. now owns 3,496 shares of the asset manager’s stock valued at $61,000 after purchasing an additional 2,770 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Price Performance

NYSE IVZ opened at $15.33 on Tuesday. The business has a 50 day simple moving average of $14.30 and a 200 day simple moving average of $16.49. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $19.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.98 and a beta of 1.47.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Invesco had a return on equity of 8.18% and a net margin of 12.77%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the business earned $0.33 EPS. Analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.48%. This is a boost from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, May 14th. Invesco’s dividend payout ratio is presently 67.20%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IVZ. BMO Capital Markets raised their target price on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Morgan Stanley reduced their target price on shares of Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of Invesco in a research note on Wednesday, January 29th. The Goldman Sachs Group upped their price target on Invesco from $15.00 to $15.25 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Invesco currently has a consensus rating of “Hold” and an average price target of $17.25.

About Invesco

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.