Sumitomo Mitsui Trust Group Inc. Increases Stake in Invesco Ltd. (NYSE:IVZ)

Sumitomo Mitsui Trust Group Inc. raised its holdings in Invesco Ltd. (NYSE:IVZ) by 24.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,488 shares of the asset manager’s stock after buying an additional 3,778 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Invesco were worth $296,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. raised its stake in shares of Invesco by 6.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,133 shares of the asset manager’s stock valued at $195,000 after acquiring an additional 710 shares in the last quarter. True Wealth Design LLC increased its holdings in Invesco by 18.3% during the 4th quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager’s stock worth $91,000 after purchasing an additional 801 shares during the period. Arizona State Retirement System raised its position in Invesco by 0.8% in the 4th quarter. Arizona State Retirement System now owns 97,956 shares of the asset manager’s stock valued at $1,712,000 after purchasing an additional 812 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Invesco by 0.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 153,250 shares of the asset manager’s stock valued at $2,677,000 after buying an additional 835 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of Invesco by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 160,661 shares of the asset manager’s stock worth $2,808,000 after buying an additional 1,010 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Price Performance

Shares of NYSE IVZ opened at $16.76 on Friday. The stock has a market cap of $7.50 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.95 and a beta of 1.48. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $19.55. The stock has a 50 day moving average of $14.90 and a two-hundred day moving average of $15.81. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.81.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a net margin of 13.14% and a return on equity of 8.94%. During the same period in the previous year, the company posted $0.33 EPS. On average, research analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.01%. This is a boost from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 14th. Invesco’s dividend payout ratio is presently 67.20%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IVZ shares. Wells Fargo & Company reduced their target price on shares of Invesco from $19.50 to $14.50 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Barclays boosted their target price on shares of Invesco from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, June 9th. Evercore ISI raised their price target on Invesco from $13.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, April 23rd. Finally, Bank of America lowered their price objective on Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.48.

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.