Voya Investment Management LLC Cuts Stake in Invesco Ltd. (NYSE:IVZ)

Voya Investment Management LLC decreased its stake in Invesco Ltd. (NYSE:IVZ) by 36.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,786 shares of the asset manager’s stock after selling 67,618 shares during the period. Voya Investment Management LLC’s holdings in Invesco were worth $2,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC boosted its holdings in Invesco by 1.5% in the 3rd quarter. Barclays PLC now owns 2,364,174 shares of the asset manager’s stock worth $41,516,000 after acquiring an additional 35,031 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Invesco during the third quarter worth $35,000. Franklin Resources Inc. boosted its stake in shares of Invesco by 136.2% in the third quarter. Franklin Resources Inc. now owns 127,777 shares of the asset manager’s stock valued at $2,265,000 after purchasing an additional 73,671 shares during the period. Principal Financial Group Inc. grew its holdings in Invesco by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 511,850 shares of the asset manager’s stock valued at $8,988,000 after purchasing an additional 16,473 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Invesco by 0.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,097,568 shares of the asset manager’s stock worth $19,273,000 after buying an additional 8,097 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IVZ. TD Cowen cut shares of Invesco from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $13.00 in a research report on Wednesday, April 9th. Morgan Stanley lowered their price objective on Invesco from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $20.00 target price (up from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Bank of America cut their price target on shares of Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.25.

Invesco Stock Up 3.5 %

Shares of Invesco stock opened at $14.41 on Friday. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $19.55. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.98 and a beta of 1.26. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $14.55 and its 200-day simple moving average is $16.72.

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, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a return on equity of 8.18% and a net margin of 12.77%. During the same period last year, the business posted $0.33 earnings per share. Equities research analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th will be given a $0.21 dividend. This is a boost from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.84 annualized dividend and a yield of 5.83%. Invesco’s dividend payout ratio is 67.20%.

Invesco Company Profile

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.