Citigroup Inc. Lowers Holdings in Invesco Ltd. (NYSE:IVZ)

Citigroup Inc. decreased its stake in shares of Invesco Ltd. (NYSE:IVZ) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 562,099 shares of the asset manager’s stock after selling 44,364 shares during the quarter. Citigroup Inc. owned about 0.12% of Invesco worth $9,218,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. OLD Mission Capital LLC bought a new stake in Invesco during the 4th quarter valued at about $26,000. Money Concepts Capital Corp increased its stake in Invesco by 150.1% during the 4th quarter. Money Concepts Capital Corp now owns 1,688 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 1,013 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Invesco by 125.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,844 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 1,027 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in Invesco during the 1st quarter valued at $43,000. Finally, TCI Wealth Advisors Inc. boosted its stake in Invesco by 19.4% during the 1st quarter. TCI Wealth Advisors Inc. now owns 4,002 shares of the asset manager’s stock valued at $66,000 after purchasing an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 66.27% of the company’s stock.

Analyst Ratings Changes

IVZ has been the topic of several recent analyst reports. Citigroup increased their target price on Invesco from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, July 14th. BMO Capital Markets assumed coverage on shares of Invesco in a research note on Monday, July 10th. They issued a “market perform” rating and a $21.00 price target for the company. StockNews.com downgraded shares of Invesco from a “hold” rating to a “sell” rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on shares of Invesco from $17.00 to $19.00 in a research report on Friday, July 21st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $17.00 price target on shares of Invesco in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.45.

Invesco Trading Up 0.1 %

NYSE:IVZ opened at $15.74 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.15 and a quick ratio of 5.15. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.35 and a beta of 1.38. Invesco Ltd. has a one year low of $13.20 and a one year high of $20.56. The business has a fifty day moving average price of $16.57 and a 200-day moving average price of $16.45.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 25th. The asset manager reported $0.31 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.09). The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a return on equity of 7.54% and a net margin of 15.29%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. Sell-side analysts forecast that Invesco Ltd. will post 1.53 EPS for the current year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 11th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.08%. Invesco’s dividend payout ratio (DPR) is presently 56.74%.

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.