Retirement Planning Co of New England Inc. Buys 2,647 Shares of Invesco Ltd. (NYSE:IVZ)

Retirement Planning Co of New England Inc. grew its stake in shares of Invesco Ltd. (NYSE:IVZ) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,197 shares of the asset manager’s stock after buying an additional 2,647 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Invesco were worth $452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Family Firm Inc. bought a new stake in Invesco during the 2nd quarter worth approximately $28,000. Sentry Investment Management LLC bought a new stake in Invesco during the second quarter valued at $30,000. Quarry LP purchased a new position in Invesco during the fourth quarter worth about $37,000. EverSource Wealth Advisors LLC grew its position in Invesco by 182.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock worth $44,000 after buying an additional 1,589 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Invesco in the 1st quarter worth about $52,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Stock Performance

NYSE:IVZ opened at $16.01 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. Invesco Ltd. has a fifty-two week low of $12.48 and a fifty-two week high of $18.28. The firm has a market cap of $7.20 billion, a PE ratio of -21.35, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44. The business has a 50 day moving average price of $16.38 and a 200-day moving average price of $15.78.

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

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were issued 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 5.12%. Invesco’s dividend payout ratio is presently -109.33%.

Analyst Upgrades and Downgrades

IVZ has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Barclays initiated coverage on shares of Invesco in a report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 price objective for the company. Wells Fargo & Company started coverage on Invesco in a research note on Thursday. They issued an “underweight” rating and a $16.00 target price on the stock. Finally, StockNews.com lowered Invesco from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.98.

Invesco Company 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.