Amalgamated Bank Reduces Holdings in Invesco Ltd. (NYSE:IVZ)

Amalgamated Bank cut its position in Invesco Ltd. (NYSE:IVZ) by 9.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 119,135 shares of the asset manager’s stock after selling 11,897 shares during the quarter. Amalgamated Bank’s holdings in Invesco were worth $1,782,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IVZ. State Board of Administration of Florida Retirement System boosted its position in Invesco by 10.4% in the 1st 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 purchased a new position in Invesco in the first quarter valued at about $2,066,000. Price T Rowe Associates Inc. MD grew its stake in 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 in the last quarter. PNC Financial Services Group Inc. increased its holdings in Invesco by 10.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock worth $1,353,000 after purchasing an additional 6,994 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Invesco by 5,321.9% during the 1st quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock worth $1,416,000 after purchasing an additional 83,767 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IVZ. Barclays assumed coverage on shares of Invesco in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 price target for the company. Wells Fargo & Company started coverage on shares of Invesco in a research report on Thursday, September 12th. They issued an “underweight” rating and a $16.00 target price for the company. The Goldman Sachs Group cut their target price on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Evercore ISI lifted their price target on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada increased their target price on Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $17.08.

Invesco Stock Down 1.7 %

IVZ stock opened at $17.26 on Thursday. The stock has a market cap of $7.77 billion, a PE ratio of -23.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.44. The firm’s 50-day simple moving average is $16.56 and its 200 day simple moving average is $15.85. Invesco Ltd. has a fifty-two week low of $12.48 and a fifty-two week high of $18.28. 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 announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. Invesco’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share. As a group, sell-side analysts predict that Invesco Ltd. will post 1.65 EPS for the current year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.82 dividend on an annualized basis and a yield of 4.75%. Invesco’s dividend payout ratio (DPR) is presently -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.