Bank of New York Mellon Corp Sells 120,771 Shares of Invesco Ltd. (NYSE:IVZ)

Bank of New York Mellon Corp lowered its position in Invesco Ltd. (NYSE:IVZ) by 4.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,492,717 shares of the asset manager’s stock after selling 120,771 shares during the period. Bank of New York Mellon Corp owned 0.56% of Invesco worth $37,815,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. increased its position in Invesco by 6.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 11,133 shares of the asset manager’s stock valued at $195,000 after buying an additional 710 shares in the last quarter. D.A. Davidson & CO. increased its position in Invesco by 1.6% during the 1st quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager’s stock valued at $720,000 after buying an additional 755 shares in the last quarter. True Wealth Design LLC increased its position in Invesco by 18.3% during the 4th quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager’s stock valued at $91,000 after buying an additional 801 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Invesco by 0.5% during 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 in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Invesco by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 160,661 shares of the asset manager’s stock valued at $2,808,000 after buying an additional 1,010 shares in the last quarter. Institutional investors own 66.09% of the company’s stock.

Invesco Price Performance

NYSE IVZ opened at $17.36 on Tuesday. The company has a market capitalization of $7.77 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.55 and a beta of 1.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.37 and a current ratio of 1.37. The business’s fifty day moving average is $15.21 and its 200 day moving average is $15.78. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $19.55.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.33 earnings per share. Sell-side analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, May 14th. This is an increase from Invesco’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 4.84%. Invesco’s payout ratio is 67.20%.

Wall Street Analyst Weigh In

Several analysts have commented on IVZ shares. Wells Fargo & Company upgraded Invesco from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $14.50 to $18.00 in a research note on Friday. Royal Bank Of Canada increased their target price on Invesco from $14.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, July 10th. Morgan Stanley increased their target price on Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 2nd. TD Cowen downgraded Invesco from a “buy” rating to a “hold” rating and cut their target price for the company from $22.00 to $13.00 in a research note on Wednesday, April 9th. Finally, Evercore ISI increased their target price on Invesco from $13.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, April 23rd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.52.

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.