Amalgamated Bank Has $1.48 Million Position in Invesco Ltd. (NYSE:IVZ)

Amalgamated Bank cut its stake in shares of Invesco Ltd. (NYSE:IVZ) by 29.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 84,119 shares of the asset manager’s stock after selling 35,016 shares during the period. Amalgamated Bank’s holdings in Invesco were worth $1,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of 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 valued at $7,718,000 after purchasing an additional 44,417 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $24,843,000 after purchasing an additional 58,332 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Invesco by 5,321.9% during the 1st quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock valued at $1,416,000 after purchasing an additional 83,767 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Invesco by 684.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 122,986 shares of the asset manager’s stock valued at $2,028,000 after purchasing an additional 107,302 shares during the last quarter. Finally, M&G Plc bought a new stake in shares of Invesco during the 1st quarter valued at approximately $8,438,000. 66.09% of the stock is owned by institutional investors.

Invesco Stock Down 2.7 %

Invesco stock opened at $17.79 on Wednesday. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco Ltd. has a 12-month low of $12.82 and a 12-month high of $18.94. The firm’s fifty day moving average is $17.39 and its 200 day moving average is $16.35. The company has a market capitalization of $8.00 billion, a PE ratio of -19.34, a PEG ratio of 1.03 and a beta of 1.44.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company earned $0.35 EPS. Invesco’s quarterly revenue was down 20.8% compared to the same quarter last year. As a group, sell-side analysts predict that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley boosted their target price on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Barclays boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday. Finally, Royal Bank of Canada boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.63.

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.