Allworth Financial LP Boosts Stake in Invesco Ltd. (NYSE:IVZ)

Allworth Financial LP increased its stake in shares of Invesco Ltd. (NYSE:IVZ) by 304.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,400 shares of the asset manager’s stock after purchasing an additional 1,806 shares during the period. Allworth Financial LP’s holdings in Invesco were worth $42,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IVZ. State Board of Administration of Florida Retirement System lifted its holdings in Invesco by 10.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock worth $7,718,000 after buying an additional 44,417 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Invesco by 4.1% during the 1st 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 in the last quarter. Bessemer Group Inc. lifted its holdings in Invesco by 5,321.9% during the 1st quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock worth $1,416,000 after buying an additional 83,767 shares in the last quarter. Greenwood Capital Associates LLC acquired a new stake in Invesco during the 1st quarter worth approximately $1,061,000. Finally, Duality Advisers LP raised its holdings in shares of Invesco by 323.0% in the 1st quarter. Duality Advisers LP now owns 95,689 shares of the asset manager’s stock valued at $1,587,000 after purchasing an additional 73,065 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IVZ shares. JPMorgan Chase & Co. raised their price objective on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Wells Fargo & Company raised their price objective on shares of Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. UBS Group raised their price objective on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Invesco has a consensus rating of “Hold” and an average target price of $18.38.

Invesco Trading Up 2.5 %

Shares of Invesco stock opened at $17.78 on Friday. Invesco Ltd. has a 1 year low of $12.68 and a 1 year high of $18.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.80 and a current ratio of 4.91. The company has a market capitalization of $8.00 billion, a P/E ratio of -19.33, a PEG ratio of 1.02 and a beta of 1.44. The company’s fifty day moving average is $17.24 and its two-hundred day moving average is $16.18.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. Invesco’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. Analysts forecast that Invesco Ltd. will post 1.69 earnings per share for the current year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Thursday, November 14th. Invesco’s payout ratio is -89.13%.

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.