Jacobs Levy Equity Management Inc. Purchases Shares of 16,129 Invesco Ltd. (NYSE:IVZ)

Jacobs Levy Equity Management Inc. purchased a new stake in Invesco Ltd. (NYSE:IVZ) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,129 shares of the asset manager’s stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IVZ. Harmony Asset Management LLC lifted its position in shares of Invesco by 1.0% during the third quarter. Harmony Asset Management LLC now owns 61,400 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 600 shares in the last quarter. Centennial Wealth Advisory LLC lifted its position in shares of Invesco by 3.8% during the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock worth $273,000 after purchasing an additional 669 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Invesco by 1.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock worth $1,001,000 after purchasing an additional 946 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Invesco by 6.1% during the second quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock worth $249,000 after purchasing an additional 963 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Invesco by 1.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock worth $1,378,000 after purchasing an additional 1,020 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IVZ. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company increased 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. Finally, Royal Bank of Canada increased their price objective on shares of Invesco from $18.00 to $19.00 and gave the company 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 issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.63.

Invesco Stock Up 0.6 %

Shares of IVZ stock opened at $18.47 on Wednesday. The firm has a fifty day moving average of $17.86 and a 200-day moving average of $16.70. 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 $14.16 and a 12-month high of $18.94. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of -20.07, a P/E/G ratio of 1.03 and a beta of 1.43.

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. 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 during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue was down 20.8% compared to the same quarter last year. As a group, equities research analysts predict that Invesco Ltd. will post 1.69 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Thursday, November 14th. Invesco’s payout ratio is -89.13%.

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.