Frank Rimerman Advisors LLC Buys Shares of 20,231 Invesco Ltd. (NYSE:IVZ)

Frank Rimerman Advisors LLC bought a new stake in shares of Invesco Ltd. (NYSE:IVZ) in the fourth quarter, Holdings Channel.com reports. The firm bought 20,231 shares of the asset manager’s stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IVZ. Principal Financial Group Inc. boosted its stake in Invesco by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 511,850 shares of the asset manager’s stock valued at $8,988,000 after purchasing an additional 16,473 shares during the period. Apollon Wealth Management LLC acquired a new position in Invesco during the 3rd quarter valued at about $271,000. GSA Capital Partners LLP acquired a new position in Invesco during the 3rd quarter valued at about $853,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Invesco by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,149 shares of the asset manager’s stock valued at $248,000 after purchasing an additional 1,167 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Invesco by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 141,469 shares of the asset manager’s stock valued at $2,484,000 after purchasing an additional 6,134 shares during the period. 66.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IVZ shares. Morgan Stanley boosted their price target on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price target on shares of Invesco from $17.00 to $19.50 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada started coverage on shares of Invesco in a research report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price target on the stock. TD Cowen dropped their price target on shares of Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.94.

Invesco Stock Performance

Invesco stock opened at $15.32 on Monday. The firm’s 50 day simple moving average is $17.42 and its 200-day simple moving average is $17.49. The company has a market cap of $6.86 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. Invesco Ltd. has a fifty-two week low of $14.16 and a fifty-two week high of $19.55.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. As a group, equities research analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.35%. The ex-dividend date was Friday, February 14th. Invesco’s dividend payout ratio (DPR) is currently 69.49%.

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.