Reinhart Partners Inc. cut its stake in Invesco Ltd. (NYSE:IVZ) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,220,363 shares of the asset manager’s stock after selling 17,378 shares during the quarter. Invesco makes up approximately 1.9% of Reinhart Partners Inc.’s portfolio, making the stock its 25th largest holding. Reinhart Partners Inc. owned approximately 0.27% of Invesco worth $20,673,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. TRUE Private Wealth Advisors purchased a new position in Invesco in the second quarter valued at $29,000. Quest Capital Management Inc. ADV acquired a new stake in Invesco in the 3rd quarter valued at approximately $28,000. Asset Dedication LLC increased its holdings in Invesco by 142.9% in the 2nd quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Captrust Financial Advisors increased its holdings in Invesco by 333.3% in the 2nd quarter. Captrust Financial Advisors now owns 1,837 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Gables Capital Management Inc. increased its holdings in Invesco by 77.1% in the 3rd quarter. Gables Capital Management Inc. now owns 1,837 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 800 shares during the last quarter. 67.25% of the stock is currently owned by hedge funds and other institutional investors.
IVZ stock traded down $0.05 on Friday, reaching $17.82. 3,852,593 shares of the company were exchanged, compared to its average volume of 4,864,206. Invesco Ltd. has a 12 month low of $15.15 and a 12 month high of $22.18. The stock’s fifty day moving average price is $16.58 and its 200 day moving average price is $18.52. The firm has a market capitalization of $8.22 billion, a PE ratio of 7.33, a PEG ratio of 0.90 and a beta of 1.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.57.
Invesco (NYSE:IVZ) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.13. Invesco had a net margin of 8.86% and a return on equity of 10.60%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Invesco’s revenue was up 27.1% compared to the same quarter last year. As a group, research analysts expect that Invesco Ltd. will post 2.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 6.96%. Invesco’s payout ratio is presently 51.03%.
Several research firms recently weighed in on IVZ. Wells Fargo & Co lifted their target price on shares of Invesco from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered shares of Invesco from an “overweight” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Thursday, September 12th. Evercore ISI lowered shares of Invesco from an “in-line” rating to an “underperform” rating in a research report on Tuesday, October 22nd. Citigroup set a $16.50 target price on shares of Invesco and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Morgan Stanley set a $18.00 target price on shares of Invesco and gave the stock a “hold” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Invesco has an average rating of “Hold” and an average price target of $19.14.
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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