Olstein Capital Management L.P. Sells 21,996 Shares of Invesco Ltd. (NYSE:IVZ)

Olstein Capital Management L.P. lessened its stake in Invesco Ltd. (NYSE:IVZ) by 4.5% during the fourth quarter, Holdings Channel reports. The firm owned 470,000 shares of the asset manager’s stock after selling 21,996 shares during the period. Invesco makes up approximately 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 21st largest position. Olstein Capital Management L.P.’s holdings in Invesco were worth $8,216,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Avior Wealth Management LLC grew its holdings in shares of Invesco by 484.9% in the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 1,285 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Invesco in the third quarter worth $35,000. Allworth Financial LP grew its stake in Invesco by 304.0% in the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 1,806 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Invesco during the 3rd quarter valued at $76,000. Finally, True Wealth Design LLC bought a new stake in shares of Invesco during the 3rd quarter worth $77,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

IVZ has been the subject of a number of research analyst reports. Evercore ISI raised their price objective on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price objective on shares of Invesco in a research note on Thursday. UBS Group boosted their target price on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company reduced their target price on shares of Invesco from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.71.

Invesco Stock Up 0.2 %

IVZ opened at $17.62 on Friday. The business’s fifty day simple moving average is $17.59 and its 200 day simple moving average is $17.23. Invesco Ltd. has a 52 week low of $14.16 and a 52 week 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 stock has a market cap of $7.92 billion, a PE ratio of -19.15, a P/E/G ratio of 1.06 and a beta of 1.43.

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.