Invesco Ltd. (NYSE:IVZ) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Invesco Ltd. (NYSE:IVZ) by 91.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,277 shares of the asset manager’s stock after selling 707,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Invesco were worth $1,200,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Invesco in the 3rd quarter worth approximately $25,000. Pinnacle Bancorp Inc. boosted its stake in Invesco by 100.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Invesco in the 3rd quarter worth approximately $32,000. Sentry Investment Management LLC acquired a new stake in Invesco in the 3rd quarter worth approximately $36,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Invesco in the 3rd quarter worth approximately $41,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. TD Cowen decreased their price objective on shares of Invesco from $21.00 to $19.50 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets restated a “market perform” rating and set a $17.00 price objective (down from $18.00) on shares of Invesco in a research note on Wednesday. UBS Group decreased their price objective on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $17.00 price objective (down from $19.00) on shares of Invesco in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Invesco currently has an average rating of “Hold” and an average target price of $16.79.

Invesco Price Performance

NYSE:IVZ opened at $14.68 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.01 and a quick ratio of 5.01. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -19.57, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The company has a 50 day moving average price of $15.69 and a 200-day moving average price of $15.44. Invesco Ltd. has a 1-year low of $12.48 and a 1-year high of $18.71.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. Invesco’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. Equities research analysts forecast that Invesco Ltd. will post 1.74 EPS for the current year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.59%. The ex-dividend date is Monday, May 13th. This is a positive change from Invesco’s previous quarterly dividend of $0.20. Invesco’s payout ratio is presently -109.33%.

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.