Mackenzie Financial Corp Has $867,000 Stock Position in Invesco Ltd. (NYSE:IVZ)

Mackenzie Financial Corp cut its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 19.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 48,596 shares of the asset manager’s stock after selling 12,062 shares during the period. Mackenzie Financial Corp’s holdings in Invesco were worth $867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IVZ. Northern Trust Corp lifted its holdings in Invesco by 30.7% during the third quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock worth $86,306,000 after acquiring an additional 1,395,023 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Invesco by 52.1% during the third quarter. AQR Capital Management LLC now owns 2,336,033 shares of the asset manager’s stock worth $33,919,000 after acquiring an additional 799,977 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Invesco during the fourth quarter worth about $9,259,000. Barclays PLC lifted its holdings in Invesco by 36.1% during the third quarter. Barclays PLC now owns 1,853,230 shares of the asset manager’s stock worth $26,907,000 after acquiring an additional 492,032 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Invesco by 26.4% during the third quarter. Deutsche Bank AG now owns 1,922,406 shares of the asset manager’s stock worth $27,913,000 after acquiring an additional 402,098 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on IVZ. Royal Bank of Canada lifted their target price on Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Thursday, January 18th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $17.00 price target (down from $19.00) on shares of Invesco in a report on Wednesday. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Morgan Stanley boosted their price target on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. cut their price target on Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.79.

Invesco Trading Down 0.1 %

Shares of NYSE:IVZ opened at $14.51 on Friday. Invesco Ltd. has a 12-month low of $12.48 and a 12-month high of $18.71. The stock has a market cap of $6.52 billion, a PE ratio of -19.35, a P/E/G ratio of 0.96 and a beta of 1.44. The business has a 50 day moving average of $15.70 and a 200-day moving average of $15.43. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.54.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Invesco Ltd. will post 1.75 earnings per share for the current year.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Monday, May 13th. This is a boost from Invesco’s previous quarterly dividend of $0.20. Invesco’s payout ratio is currently -106.67%.

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.