Chevy Chase Trust Holdings LLC Trims Holdings in Invesco Ltd. (NYSE:IVZ)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Invesco Ltd. (NYSE:IVZFree Report) by 0.4% during the 1st quarter, HoldingsChannel reports. The fund owned 234,956 shares of the asset manager’s stock after selling 890 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Invesco were worth $3,564,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Live Oak Private Wealth LLC lifted its holdings in shares of Invesco by 8.6% during the 1st quarter. Live Oak Private Wealth LLC now owns 347,642 shares of the asset manager’s stock worth $5,274,000 after acquiring an additional 27,471 shares during the period. Centennial Wealth Advisory LLC lifted its holdings in shares of Invesco by 22.7% during the 1st quarter. Centennial Wealth Advisory LLC now owns 25,420 shares of the asset manager’s stock worth $386,000 after acquiring an additional 4,711 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Invesco by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 52,501 shares of the asset manager’s stock worth $796,000 after acquiring an additional 1,260 shares during the period. LifeWealth Investments LLC lifted its holdings in shares of Invesco by 68.2% during the 1st quarter. LifeWealth Investments LLC now owns 20,725 shares of the asset manager’s stock worth $314,000 after acquiring an additional 8,407 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in shares of Invesco by 4.5% during the 1st quarter. QRG Capital Management Inc. now owns 127,477 shares of the asset manager’s stock worth $1,934,000 after acquiring an additional 5,543 shares during the period. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Stock Up 0.9%

Shares of NYSE:IVZ opened at $15.72 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.81. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $19.55. The company has a 50 day moving average of $14.61 and a two-hundred day moving average of $15.87. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.83 and a beta of 1.49.

Invesco (NYSE:IVZGet Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. Invesco had a net margin of 13.14% and a return on equity of 8.94%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.33 earnings per share. As a group, analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th were given a $0.21 dividend. This is an increase from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.84 annualized dividend and a yield of 5.34%. Invesco’s dividend payout ratio (DPR) is 67.20%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IVZ shares. Morgan Stanley cut their price objective on shares of Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. TD Cowen lowered shares of Invesco from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $13.00 in a report on Wednesday, April 9th. Wells Fargo & Company dropped their target price on shares of Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group increased their target price on shares of Invesco from $16.25 to $16.75 and gave the stock a “neutral” rating in a research report on Friday. Finally, Evercore ISI increased their target price on shares of Invesco from $13.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.42.

Read Our Latest Analysis on Invesco

About Invesco

(Free Report)

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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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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