AE Wealth Management LLC Sells 10,379 Shares of Invesco Ltd. (NYSE:IVZ)

AE Wealth Management LLC cut its position in Invesco Ltd. (NYSE:IVZ) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 616,645 shares of the asset manager’s stock after selling 10,379 shares during the period. AE Wealth Management LLC’s holdings in Invesco were worth $9,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Centennial Wealth Advisory LLC lifted its stake in Invesco by 3.8% in the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 669 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Invesco by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock worth $53,000 after purchasing an additional 766 shares during the period. Wright Investors Service Inc. increased its position in Invesco by 2.1% during the first quarter. Wright Investors Service Inc. now owns 46,787 shares of the asset manager’s stock worth $776,000 after buying an additional 944 shares during the last quarter. Parallel Advisors LLC raised its stake in Invesco by 40.2% in the fourth quarter. Parallel Advisors LLC now owns 3,343 shares of the asset manager’s stock valued at $60,000 after buying an additional 959 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of Invesco by 6.1% in the second quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock valued at $249,000 after buying an additional 963 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IVZ. Royal Bank of Canada boosted their target price on Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Barclays initiated coverage on shares of Invesco in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price objective on the stock. Evercore ISI increased their price target on shares of Invesco from $17.00 to $18.00 and gave the company an “in-line” rating in a report on Tuesday, August 20th. Wells Fargo & Company initiated coverage on Invesco in a report on Thursday, September 12th. They set an “underweight” rating and a $16.00 price objective for the company. Finally, The Goldman Sachs Group lowered their target price on Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Invesco has a consensus rating of “Hold” and an average price target of $16.98.

Invesco Price Performance

Shares of NYSE IVZ opened at $17.17 on Friday. The stock has a market capitalization of $7.72 billion, a PE ratio of -22.89, a P/E/G ratio of 1.09 and a beta of 1.44. Invesco Ltd. has a fifty-two week low of $12.48 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.80 and a quick ratio of 5.80. The business has a fifty day moving average price of $16.48 and a two-hundred day moving average price of $15.81.

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

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.82 annualized dividend and a yield of 4.78%. Invesco’s dividend payout ratio is currently -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.