Retirement Systems of Alabama Reduces Stake in Invesco Ltd. (NYSE:IVZ)

Retirement Systems of Alabama lessened its holdings in shares of Invesco Ltd. (NYSE:IVZFree Report) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 98,445 shares of the asset manager’s stock after selling 784 shares during the period. Retirement Systems of Alabama’s holdings in Invesco were worth $1,729,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Harmony Asset Management LLC raised its holdings in 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 grew its position in shares of Invesco by 4.5% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 19,095 shares of the asset manager’s stock valued at $335,000 after buying an additional 816 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Invesco by 1.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock worth $1,001,000 after acquiring an additional 946 shares in the last quarter. Fifth Third Bancorp lifted its position in Invesco by 6.1% in the second quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock valued at $249,000 after acquiring an additional 963 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Invesco by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock valued at $1,378,000 after acquiring an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Trading Up 3.3 %

NYSE IVZ opened at $17.33 on Friday. 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 stock has a market capitalization of $7.79 billion, a P/E ratio of -18.84, a P/E/G ratio of 1.06 and a beta of 1.43. Invesco Ltd. has a 52-week low of $14.16 and a 52-week high of $18.94. The firm has a 50-day moving average price of $17.88 and a 200 day moving average price of $16.80.

Invesco (NYSE:IVZGet Free Report) last issued 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. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $0.35 EPS. The company’s revenue for the quarter was down 20.8% on a year-over-year basis. Equities research analysts expect that Invesco Ltd. will post 1.69 EPS for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were given a dividend of $0.205 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.73%. Invesco’s payout ratio is currently -89.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley lifted their target price on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Evercore ISI lifted their target price on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Invesco currently has an average rating of “Hold” and an average price target of $18.88.

Get Our Latest Analysis on Invesco

About Invesco

(Free Report)

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.

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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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