Covestor Ltd Lowers Stake in Invesco Ltd. (NYSE:IVZ)

Covestor Ltd trimmed its holdings in Invesco Ltd. (NYSE:IVZ) by 18.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,594 shares of the asset manager’s stock after selling 1,010 shares during the quarter. Covestor Ltd’s holdings in Invesco were worth $81,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in IVZ. Family Firm Inc. purchased a new position in shares of Invesco in the 2nd quarter valued at approximately $28,000. Sentry Investment Management LLC purchased a new position in Invesco in the 2nd quarter valued at $30,000. Allworth Financial LP increased its stake in Invesco by 304.0% in the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after buying an additional 1,806 shares during the period. Abich Financial Wealth Management LLC raised its position in Invesco by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after buying an additional 1,210 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in Invesco during the 2nd quarter worth $61,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Price Performance

Invesco stock opened at $17.65 on Thursday. Invesco Ltd. has a 1 year low of $13.40 and a 1 year high of $18.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a 50 day moving average price of $17.42 and a 200 day moving average price of $16.36. The company has a market cap of $7.93 billion, a price-to-earnings ratio of -19.18, a PEG ratio of 1.02 and a beta of 1.44.

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

Invesco Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.65%. Invesco’s dividend payout ratio (DPR) is -89.13%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays lifted their price target on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.63.

Invesco 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.