abrdn plc Sells 497,184 Shares of Invesco Ltd. (NYSE:IVZ)

abrdn plc reduced its stake in Invesco Ltd. (NYSE:IVZ) by 86.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,056 shares of the asset manager’s stock after selling 497,184 shares during the quarter. abrdn plc’s holdings in Invesco were worth $1,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quantbot Technologies LP raised its holdings in Invesco by 276.8% in the third quarter. Quantbot Technologies LP now owns 81,754 shares of the asset manager’s stock worth $1,187,000 after buying an additional 60,057 shares during the last quarter. Oak Thistle LLC purchased a new position in Invesco in the 4th quarter worth approximately $1,166,000. Northern Trust Corp lifted its position in Invesco by 30.7% in the 3rd quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock valued at $86,306,000 after acquiring an additional 1,395,023 shares in the last quarter. Raymond James & Associates boosted its stake in Invesco by 4.5% during the 3rd quarter. Raymond James & Associates now owns 65,917 shares of the asset manager’s stock valued at $957,000 after purchasing an additional 2,846 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Invesco by 99.6% in the 3rd quarter. Hsbc Holdings PLC now owns 749,137 shares of the asset manager’s stock worth $10,912,000 after purchasing an additional 373,778 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Analyst Ratings Changes

IVZ has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. BMO Capital Markets reiterated a “market perform” rating and issued a $17.00 price target (down from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. UBS Group dropped their target price on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $17.00 price target (down from $19.00) on shares of Invesco in a report on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Invesco currently has an average rating of “Hold” and a consensus target price of $16.79.

Invesco Trading Down 1.4 %

NYSE:IVZ opened at $14.46 on Tuesday. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of -19.28, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44. 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 business has a fifty day moving average price of $15.67 and a 200-day moving average price of $15.47. Invesco Ltd. has a one year low of $12.48 and a one year high of $18.71.

Invesco (NYSE:IVZ) last posted its quarterly earnings data 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 the consensus estimate of $1.08 billion. Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. Sell-side analysts forecast that Invesco Ltd. will post 1.68 EPS for the current year.

Invesco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be given a $0.205 dividend. This is a positive change from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Monday, May 13th. Invesco’s dividend payout ratio is presently -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.