Harmony Asset Management LLC Sells 24,025 Shares of Invesco Ltd. (NYSE:IVZ)

Harmony Asset Management LLC trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 28.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,800 shares of the asset manager’s stock after selling 24,025 shares during the quarter. Harmony Asset Management LLC’s holdings in Invesco were worth $910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its position in shares of Invesco by 10.4% during the first 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 buying an additional 44,417 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Invesco in the 1st quarter worth approximately $2,066,000. 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. Norges Bank purchased a new position in Invesco in the 4th quarter worth approximately $59,713,000. Finally, PNC Financial Services Group Inc. grew its holdings in Invesco by 10.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock worth $1,353,000 after acquiring an additional 6,994 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Invesco in a research note on Thursday, September 12th. They set an “underweight” rating and a $16.00 target price on the stock. Royal Bank of Canada boosted their price target on Invesco from $16.00 to $17.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group reduced their target price on Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Barclays began coverage on Invesco in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.98.

Invesco Price Performance

Shares of NYSE IVZ opened at $17.17 on Monday. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of -22.89, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44. Invesco Ltd. has a 52 week low of $12.48 and a 52 week high of $18.28. The firm has a 50-day simple moving average of $16.51 and a 200-day simple moving average of $15.82. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts predict that Invesco Ltd. will post 1.65 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, August 16th. Invesco’s dividend payout ratio (DPR) is -109.33%.

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.