Ameriprise Financial Inc. Acquires 9,018 Shares of Invesco Ltd. (NYSE:IVZ)

Ameriprise Financial Inc. grew its holdings in Invesco Ltd. (NYSE:IVZ) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 391,285 shares of the asset manager’s stock after purchasing an additional 9,018 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.09% of Invesco worth $6,840,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IVZ. JPMorgan Chase & Co. boosted its holdings in shares of Invesco by 17.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager’s stock valued at $22,472,000 after buying an additional 188,041 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Invesco by 4.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager’s stock valued at $45,684,000 after buying an additional 113,451 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Invesco in the 4th quarter valued at about $735,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Invesco in the 4th quarter valued at about $424,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Invesco by 41.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock valued at $867,000 after buying an additional 14,489 shares in the last quarter. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Performance

IVZ opened at $14.57 on Friday. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $19.55. 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 firm has a market capitalization of $6.52 billion, a PE ratio of 12.35, a P/E/G ratio of 0.98 and a beta of 1.47. The firm has a 50 day moving average of $14.27 and a two-hundred day moving average of $16.45.

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

Invesco Increases Dividend

The firm also recently declared 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 of this dividend is Wednesday, May 14th. This is a positive change from Invesco’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 5.77%. Invesco’s dividend payout ratio (DPR) is currently 67.20%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IVZ. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 price target (up from $18.00) on shares of Invesco in a report on Wednesday, January 29th. Bank of America lowered their target price on shares of Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada initiated coverage on shares of Invesco in a research note on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 target price for the company. Evercore ISI lifted their target price on shares of Invesco from $13.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 23rd. Finally, Argus lifted their target price on shares of Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Invesco has an average rating of “Hold” and a consensus price target of $17.25.

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.