Truvestments Capital LLC Purchases Shares of 4,309 Invesco Ltd. (NYSE:IVZ)

Truvestments Capital LLC acquired a new position in Invesco Ltd. (NYSE:IVZ) during the third quarter, according to its most recent filing with the SEC. The firm acquired 4,309 shares of the asset manager’s stock, valued at approximately $76,000.

Several other hedge funds have also recently made changes to their positions in IVZ. Avior Wealth Management LLC boosted its holdings in Invesco by 484.9% in the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 1,285 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Invesco during the 2nd quarter valued at about $28,000. Sentry Investment Management LLC purchased a new position in shares of Invesco during the second quarter valued at about $30,000. Allworth Financial LP raised its stake in Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after buying an additional 1,806 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after buying an additional 1,210 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IVZ. Deutsche Bank Aktiengesellschaft upped their target price on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada upped their price target on Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their target price on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price target on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.63.

Invesco Stock Down 0.1 %

Shares of Invesco stock opened at $18.14 on Wednesday. The company has a 50-day simple moving average of $17.68 and a two-hundred day simple moving average of $16.53. The stock has a market capitalization of $8.15 billion, a PE ratio of -19.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44. Invesco Ltd. has a 52-week low of $13.53 and a 52-week high of $18.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91.

Invesco (NYSE:IVZ) last announced its quarterly earnings data 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. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was down 20.8% on a year-over-year basis. On average, analysts anticipate that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Thursday, November 14th. Invesco’s payout ratio is currently -89.13%.

Invesco Company 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.