Wells Fargo & Company MN Sells 8,767 Shares of Invesco Ltd. (NYSE:IVZ)

Wells Fargo & Company MN reduced its position in Invesco Ltd. (NYSE:IVZ) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,664 shares of the asset manager’s stock after selling 8,767 shares during the period. Wells Fargo & Company MN’s holdings in Invesco were worth $3,333,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IVZ. Norges Bank bought a new position in shares of Invesco in the fourth quarter valued at $57,459,000. CIBC Private Wealth Group LLC lifted its position in Invesco by 2,385.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock valued at $29,301,000 after acquiring an additional 1,642,645 shares in the last quarter. Amundi lifted its position in Invesco by 124.6% in the 4th quarter. Amundi now owns 2,653,259 shares of the asset manager’s stock valued at $45,424,000 after acquiring an additional 1,472,178 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Invesco by 965.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 991,281 shares of the asset manager’s stock valued at $17,328,000 after purchasing an additional 898,210 shares during the last quarter. Finally, Ieq Capital LLC increased its holdings in Invesco by 635.9% during the 4th quarter. Ieq Capital LLC now owns 490,242 shares of the asset manager’s stock worth $8,569,000 after purchasing an additional 423,621 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IVZ. Evercore ISI cut their target price on Invesco from $18.00 to $13.00 and set an “in-line” rating on the stock in a research report on Friday, April 11th. TD Cowen downgraded shares of Invesco from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $13.00 in a report on Wednesday, April 9th. BMO Capital Markets upped their target price on shares of Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 price target (up from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.03.

Invesco Price Performance

Shares of NYSE IVZ opened at $13.49 on Wednesday. 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 stock has a fifty day simple moving average of $15.20 and a two-hundred day simple moving average of $16.92. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $19.55. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. Invesco had a return on equity of 8.18% and a net margin of 12.77%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $0.33 EPS. Analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were paid a $0.205 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 annualized dividend and a dividend yield of 6.08%. Invesco’s payout ratio is 69.49%.

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.