Bank of America Corp DE Cuts Stock Position in Invesco Ltd. (NYSE:IVZ)

Bank of America Corp DE trimmed its position in shares of Invesco Ltd. (NYSE:IVZ) by 17.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,233,234 shares of the asset manager’s stock after selling 265,034 shares during the quarter. Bank of America Corp DE owned about 0.27% of Invesco worth $21,557,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd lifted its position in Invesco by 180.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 1,531 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Invesco during the fourth quarter worth $44,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Invesco during the 4th quarter valued at $52,000. Assetmark Inc. boosted its position in shares of Invesco by 381.5% in the 4th quarter. Assetmark Inc. now owns 3,496 shares of the asset manager’s stock worth $61,000 after purchasing an additional 2,770 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Invesco by 133.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,737 shares of the asset manager’s stock worth $65,000 after buying an additional 2,136 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IVZ has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on Invesco from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Argus increased their price objective on shares of Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Citigroup lowered their target price on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. UBS Group upped their price target on shares of Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $20.00 price target (up previously from $18.00) on shares of Invesco in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Invesco has a consensus rating of “Hold” and an average target price of $17.25.

Invesco Stock Down 0.7%

IVZ opened at $15.33 on Tuesday. The company has a fifty day moving average of $14.30 and a two-hundred day moving average of $16.49. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.98 and a beta of 1.47. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $19.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91.

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

Invesco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 14th. This is a boost from Invesco’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 5.48%. Invesco’s dividend payout ratio is currently 67.20%.

Invesco 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.