Canada Pension Plan Investment Board Sells 83,600 Shares of Invesco Ltd. (NYSE:IVZ)

Canada Pension Plan Investment Board lessened its position in shares of Invesco Ltd. (NYSE:IVZ) by 28.6% in the second quarter, HoldingsChannel.com reports. The fund owned 209,200 shares of the asset manager’s stock after selling 83,600 shares during the period. Canada Pension Plan Investment Board’s holdings in Invesco were worth $3,130,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IVZ. Dynamic Technology Lab Private Ltd bought a new stake in Invesco during the fourth quarter worth $193,000. PNC Financial Services Group Inc. raised its holdings in shares of Invesco by 10.2% during the 4th 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. Corient Private Wealth LLC lifted its position in shares of Invesco by 30.9% during the 4th quarter. Corient Private Wealth LLC now owns 39,163 shares of the asset manager’s stock worth $699,000 after buying an additional 9,254 shares during the last quarter. Commerce Bank boosted its stake in Invesco by 201.2% in the fourth quarter. Commerce Bank now owns 38,787 shares of the asset manager’s stock valued at $692,000 after buying an additional 25,909 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Invesco by 24.1% in the fourth quarter. Hsbc Holdings PLC now owns 929,376 shares of the asset manager’s stock valued at $16,640,000 after acquiring an additional 180,239 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IVZ shares. Barclays started coverage on shares of Invesco in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group dropped their price target on Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. StockNews.com cut Invesco from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Finally, Royal Bank of Canada increased their target price on Invesco from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.08.

Invesco Stock Down 1.7 %

Invesco stock opened at $17.26 on Thursday. The firm has a 50 day moving average price of $16.56 and a two-hundred day moving average price of $15.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. Invesco Ltd. has a 52-week low of $12.48 and a 52-week high of $18.28. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of -23.01, a PEG ratio of 1.18 and a beta of 1.44.

Invesco (NYSE:IVZ) last released its 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 business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. Invesco’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Equities analysts predict that Invesco Ltd. will post 1.65 EPS for the current year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were given a dividend of $0.205 per share. The ex-dividend date was Friday, August 16th. This represents a $0.82 annualized dividend and a dividend yield of 4.75%. Invesco’s payout ratio is -109.33%.

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.