Rhumbline Advisers Has $10.41 Million Stock Holdings in Invesco Ltd. (NYSE:IVZ)

Rhumbline Advisers trimmed its position in Invesco Ltd. (NYSE:IVZ) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 696,105 shares of the asset manager’s stock after selling 6,095 shares during the quarter. Rhumbline Advisers’ holdings in Invesco were worth $10,414,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IVZ. State Board of Administration of Florida Retirement System boosted its stake in shares of Invesco by 10.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock valued at $7,718,000 after purchasing an additional 44,417 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Invesco in the first quarter valued at approximately $2,066,000. Price T Rowe Associates Inc. MD grew its stake in shares of Invesco by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after buying an additional 58,332 shares during the last quarter. Norges Bank bought a new stake in shares of Invesco during the fourth quarter worth $59,713,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Invesco by 10.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock worth $1,353,000 after buying an additional 6,994 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group reduced their price objective on Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. StockNews.com downgraded Invesco from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Royal Bank of Canada lifted their target price on shares of Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI lifted their price target on shares of Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.20.

Invesco Stock Performance

IVZ stock opened at $15.79 on Thursday. The firm has a market cap of $7.10 billion, a PE ratio of -21.05, a price-to-earnings-growth ratio of 1.08 and a beta of 1.44. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $16.35 and a 200-day moving average price of $15.77. Invesco Ltd. has a 1-year low of $12.48 and a 1-year high of $18.28.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, equities research analysts expect that Invesco Ltd. will post 1.65 earnings per share for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Friday, August 16th. Invesco’s payout ratio is -109.33%.

About Invesco

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.