Vestcor Inc Invests $559,000 in Invesco Ltd. (NYSE:IVZ)

Vestcor Inc acquired a new position in shares of Invesco Ltd. (NYSE:IVZ) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 32,000 shares of the asset manager’s stock, valued at approximately $559,000.

Other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC lifted its position in shares of Invesco by 484.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after buying an additional 1,285 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco during the 3rd quarter worth approximately $35,000. Crews Bank & Trust purchased a new stake in Invesco in the 4th quarter valued at $44,000. Assetmark Inc. raised its position in Invesco by 381.5% in the 4th quarter. Assetmark Inc. now owns 3,496 shares of the asset manager’s stock valued at $61,000 after purchasing an additional 2,770 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Invesco by 133.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,737 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 2,136 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Stock Up 2.4 %

Shares of Invesco stock opened at $15.32 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. Invesco Ltd. has a one year low of $14.16 and a one year high of $19.55. The company has a market cap of $6.86 billion, a P/E ratio of 12.98, a PEG ratio of 0.98 and a beta of 1.43. The firm has a fifty day moving average of $17.42 and a two-hundred day moving average of $17.49.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. On average, analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were paid a dividend of $0.205 per share. The ex-dividend date was Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.35%. Invesco’s dividend payout ratio (DPR) is presently 69.49%.

Wall Street Analyst Weigh In

Several research firms recently commented on IVZ. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 price target (up previously from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Morgan Stanley upped their price target on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. TD Cowen reduced their price target on shares of Invesco from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, BMO Capital Markets upped their price target on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.94.

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.