Hennion & Walsh Asset Management Inc. Lowers Stake in Invesco Ltd. (NYSE:IVZ)

Hennion & Walsh Asset Management Inc. decreased its holdings in Invesco Ltd. (NYSE:IVZ) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,493 shares of the asset manager’s stock after selling 1,444 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Invesco were worth $939,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Family Firm Inc. purchased a new position in shares of Invesco during the 2nd quarter valued at approximately $28,000. Sentry Investment Management LLC purchased a new stake in Invesco during the 2nd quarter worth approximately $30,000. Fidelis Capital Partners LLC purchased a new position in shares of Invesco in the first quarter valued at approximately $52,000. Abich Financial Wealth Management LLC boosted its stake in shares of Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after acquiring an additional 1,210 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Invesco during the second quarter worth approximately $61,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Stock Up 0.1 %

Shares of IVZ opened at $17.63 on Monday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.93 billion, a P/E ratio of -19.16, a price-to-earnings-growth ratio of 1.04 and a beta of 1.44. The company’s 50-day moving average price is $17.15 and its 200 day moving average price is $16.11. Invesco Ltd. has a 12-month low of $12.61 and a 12-month high of $18.79.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.01%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was down 20.8% on a year-over-year basis. On average, sell-side analysts forecast that Invesco Ltd. will post 1.67 earnings per share for the current year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.65%. The ex-dividend date is Thursday, November 14th. Invesco’s payout ratio is -89.13%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IVZ. Deutsche Bank Aktiengesellschaft lifted 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. Morgan Stanley boosted their target price on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Evercore ISI boosted their price objective on Invesco from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their target price on Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.38.

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.