Bank of Nova Scotia Cuts Stock Position in Invesco Ltd. (NYSE:IVZ)

Bank of Nova Scotia lowered its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 40.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,676 shares of the asset manager's stock after selling 268,002 shares during the quarter. Bank of Nova Scotia owned 0.09% of Invesco worth $6,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco in the third quarter worth about $35,000. Aster Capital Management DIFC Ltd boosted its holdings in Invesco by 180.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock worth $42,000 after acquiring an additional 1,531 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Invesco in the fourth quarter valued at about $44,000. Resona Asset Management Co. Ltd. purchased a new stake in Invesco in the fourth quarter valued at $52,000. Finally, Assetmark Inc. increased its holdings in Invesco by 381.5% in the fourth quarter. Assetmark Inc. now owns 3,496 shares of the asset manager's stock valued at $61,000 after buying an additional 2,770 shares in the last quarter. 66.09% of the stock is owned by institutional investors.

Invesco Stock Up 2.4 %

Shares of IVZ traded up $0.31 during trading hours on Thursday, hitting $12.95. The company had a trading volume of 1,414,741 shares, compared to its average volume of 4,256,665. Invesco Ltd. has a 52-week low of $11.60 and a 52-week high of $19.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a fifty day moving average price of $15.65 and a 200-day moving average price of $17.06. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.98 and a beta of 1.26.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. On average, equities research analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 annualized dividend and a yield of 6.33%. Invesco's dividend payout ratio (DPR) is presently 69.49%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $20.00 target price (up previously from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. Bank of America dropped their price objective on shares of Invesco from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company cut their price objective on Invesco from $19.50 to $14.50 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price objective on Invesco from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Argus upped their price objective on shares of Invesco from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $17.03.

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.