Econ Financial Services Corp Increases Position in Invesco Ltd. (NYSE:IVZ)

Econ Financial Services Corp boosted its stake in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 132.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,534 shares of the asset manager's stock after purchasing an additional 69,217 shares during the quarter. Invesco comprises 1.2% of Econ Financial Services Corp's portfolio, making the stock its 26th largest holding. Econ Financial Services Corp's holdings in Invesco were worth $2,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Mutual Life Insurance Co. acquired a new stake in Invesco during the third quarter worth about $1,428,196,000. Azora Capital LP bought a new stake in Invesco during the 3rd quarter worth approximately $27,289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Invesco by 131.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager's stock valued at $15,982,000 after purchasing an additional 516,622 shares during the last quarter. Algert Global LLC grew its holdings in shares of Invesco by 1,207.8% during the third quarter. Algert Global LLC now owns 481,270 shares of the asset manager's stock worth $8,451,000 after purchasing an additional 444,470 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Invesco in the third quarter valued at about $4,889,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Thursday. UBS Group raised their price target on Invesco from $17.00 to $21.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Invesco from $18.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their price objective on shares of Invesco from $19.00 to $20.75 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price target on Invesco from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.94.

Invesco Stock Down 1.4 %

Invesco stock traded down $0.28 during mid-day trading on Friday, reaching $18.90. The company's stock had a trading volume of 3,547,188 shares, compared to its average volume of 4,779,575. 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 business's 50 day simple moving average is $17.79 and its 200 day simple moving average is $17.40. Invesco Ltd. has a 12 month low of $14.16 and a 12 month high of $19.55. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. As a group, research analysts anticipate that Invesco Ltd. will post 1.85 earnings per share for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.82 annualized dividend and a yield of 4.34%. Invesco's dividend payout ratio 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.