Toronto Dominion Bank raised its position in Invesco Ltd. (NYSE:IVZ – Free Report) by 160.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 430,851 shares of the asset manager’s stock after purchasing an additional 265,289 shares during the period. Toronto Dominion Bank owned 0.10% of Invesco worth $7,531,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IVZ. Norges Bank purchased a new position in Invesco in the 4th quarter valued at $57,459,000. AQR Capital Management LLC increased its stake in shares of Invesco by 38.5% in the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock worth $142,385,000 after acquiring an additional 2,264,551 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Invesco by 2,385.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock worth $29,301,000 after acquiring an additional 1,642,645 shares during the last quarter. Amundi increased its stake in shares of Invesco by 124.6% in the 4th quarter. Amundi now owns 2,653,259 shares of the asset manager’s stock worth $45,424,000 after acquiring an additional 1,472,178 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Invesco by 58.6% in the 4th quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager’s stock worth $58,289,000 after acquiring an additional 1,232,359 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on IVZ shares. Morgan Stanley cut their target price on Invesco from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group raised their target price on Invesco from $15.00 to $15.25 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Bank of America cut their target price on Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, UBS Group raised their target price on Invesco from $17.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Invesco has an average rating of “Hold” and a consensus target price of $17.25.
Invesco Stock Performance
NYSE IVZ opened at $14.78 on Friday. The company has a market cap of $6.61 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.98 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a 50-day moving average of $14.18 and a two-hundred day moving average of $16.32. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $19.55.
Invesco (NYSE:IVZ – Get Free Report) 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 during the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a return on equity of 8.18% and a net margin of 12.77%. During the same period in the previous year, the company posted $0.33 EPS. As a group, analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.
Invesco Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th will be given a $0.21 dividend. This is an increase from Invesco’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 5.68%. The ex-dividend date is Wednesday, May 14th. Invesco’s payout ratio is currently 67.20%.
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.
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