Trian Fund Management L.P. Reduces Stake in Invesco Ltd. (NYSE:IVZ)

Trian Fund Management L.P. lowered its position in shares of Invesco Ltd. (NYSE:IVZ) by 14.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 23,173,442 shares of the asset manager’s stock after selling 4,050,292 shares during the quarter. Invesco comprises approximately 10.5% of Trian Fund Management L.P.’s investment portfolio, making the stock its 5th largest position. Trian Fund Management L.P. owned about 0.05% of Invesco worth $406,926,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Invesco by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after purchasing an additional 3,349,069 shares during the last quarter. Swedbank AB bought a new position in shares of Invesco during the 1st quarter valued at $41,475,000. Marshall Wace LLP boosted its stake in shares of Invesco by 115.7% in the 2nd quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock worth $18,269,000 after buying an additional 654,960 shares during the last quarter. Algert Global LLC grew its holdings in shares of Invesco by 1,207.8% in the third quarter. Algert Global LLC now owns 481,270 shares of the asset manager’s stock worth $8,451,000 after acquiring an additional 444,470 shares during the period. Finally, AQR Capital Management LLC increased its position in Invesco by 19.0% during the second quarter. AQR Capital Management LLC now owns 2,364,232 shares of the asset manager’s stock valued at $35,274,000 after acquiring an additional 377,786 shares during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group raised their target price on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their target price on shares of Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group lifted their target price on Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.63.

Invesco Stock Down 0.2 %

NYSE IVZ traded down $0.03 during trading hours on Wednesday, reaching $18.12. The company’s stock had a trading volume of 296,556 shares, compared to its average volume of 4,157,310. Invesco Ltd. has a 1 year low of $13.53 and a 1 year high of $18.94. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $17.68 and its 200-day moving average price is $16.53.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. Invesco’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, analysts predict that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.53%. Invesco’s dividend payout ratio (DPR) is -89.13%.

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.