Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Invesco Ltd. (NYSE:IVZ)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 9.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,669 shares of the asset manager’s stock after purchasing an additional 5,878 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Invesco were worth $1,241,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IVZ. Avior Wealth Management LLC lifted its position in Invesco by 484.9% during the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 1,285 shares during the last quarter. Family Firm Inc. bought a new position in shares of Invesco in the second quarter worth approximately $28,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the second quarter valued at $30,000. Allworth Financial LP lifted its holdings in shares of Invesco by 304.0% during 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. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Invesco in the second quarter worth approximately $61,000. 66.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IVZ shares. Barclays upped their price target on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Morgan Stanley increased their price target on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Evercore ISI raised their price objective on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.63.

Invesco Stock Down 1.1 %

IVZ opened at $17.91 on Friday. The firm has a market cap of $8.05 billion, a P/E ratio of -19.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. The business has a 50 day moving average price of $17.82 and a 200 day moving average price of $16.63. Invesco Ltd. has a twelve month low of $14.16 and a twelve month 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.

Invesco (NYSE:IVZ) last announced its quarterly earnings results 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 firm had revenue of $1.10 billion during 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%. The firm’s quarterly revenue was down 20.8% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. Research analysts forecast that Invesco Ltd. will post 1.69 EPS for the current year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.58%. Invesco’s dividend payout ratio is currently -89.13%.

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.