Everence Capital Management Inc. Invests $233,000 in Invesco Ltd. (NYSE:IVZ)

Everence Capital Management Inc. purchased a new stake in shares of Invesco Ltd. (NYSE:IVZ) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,310 shares of the asset manager’s stock, valued at approximately $233,000.

Several other hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its position in Invesco by 484.9% during the 3rd 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 period. Wilmington Savings Fund Society FSB bought a new stake in shares of Invesco during the third quarter worth approximately $35,000. Sentry Investment Management LLC bought a new stake in shares of Invesco during the second quarter worth approximately $30,000. Allworth Financial LP lifted its holdings in Invesco by 304.0% in the third 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 bought a new position in Invesco in the second quarter valued at approximately $61,000. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Down 0.2 %

Shares of IVZ stock opened at $17.12 on Thursday. Invesco Ltd. has a 12-month low of $14.16 and a 12-month high of $18.94. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $17.78 and a 200-day moving average of $17.05. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of -18.61, a P/E/G ratio of 1.05 and a beta of 1.43.

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, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The company’s revenue was down 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, equities research analysts predict that Invesco Ltd. will post 1.7 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.79%. The ex-dividend date was Thursday, November 14th. Invesco’s payout ratio is -89.13%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IVZ shares. Barclays increased 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. Evercore ISI increased their target price on Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group boosted their target price on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods cut their price target on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted 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. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.83.

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.