Invesco Ltd. (NYSE:IVZ) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in Invesco Ltd. (NYSE:IVZ) by 21.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,437 shares of the asset manager’s stock after purchasing an additional 3,839 shares during the quarter. Fifth Third Bancorp’s holdings in Invesco were worth $325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IVZ. Van ECK Associates Corp raised its position in Invesco by 1.5% in the fourth quarter. Van ECK Associates Corp now owns 161,758 shares of the asset manager’s stock valued at $2,828,000 after purchasing an additional 2,316 shares during the period. Asset Management One Co. Ltd. raised its position in Invesco by 867.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 83,108 shares of the asset manager’s stock valued at $1,469,000 after purchasing an additional 74,518 shares during the period. Allworth Financial LP raised its position in Invesco by 438.6% in the fourth quarter. Allworth Financial LP now owns 12,927 shares of the asset manager’s stock valued at $225,000 after purchasing an additional 10,527 shares during the period. State of New Jersey Common Pension Fund D raised its position in Invesco by 5.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 121,550 shares of the asset manager’s stock valued at $2,125,000 after purchasing an additional 6,092 shares during the period. Finally, CIBC Asset Management Inc raised its position in Invesco by 1.9% in the fourth quarter. CIBC Asset Management Inc now owns 64,188 shares of the asset manager’s stock valued at $1,122,000 after purchasing an additional 1,224 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IVZ. Evercore ISI lifted their target price on Invesco from $13.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, April 23rd. Bank of America cut their price objective on Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Morgan Stanley cut their price objective on Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group boosted their price objective on Invesco from $16.00 to $16.25 and gave the company a “neutral” rating in a report on Thursday, June 12th. Finally, Barclays boosted their price objective on Invesco from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Invesco currently has an average rating of “Hold” and a consensus price target of $17.38.

Invesco Trading Up 1.3%

IVZ opened at $14.70 on Thursday. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $19.55. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.70 and a beta of 1.49. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.37 and a quick ratio of 1.37. The business has a fifty day moving average price of $14.28 and a 200 day moving average price of $16.01.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a return on equity of 8.94% and a net margin of 13.14%. During the same period in the prior year, the firm posted $0.33 EPS. Sell-side analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th were given a dividend of $0.21 per share. This is a boost from Invesco’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Wednesday, May 14th. 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.