Norges Bank Takes $57.46 Million Position in Invesco Ltd. (NYSE:IVZ)

Norges Bank purchased a new position in Invesco Ltd. (NYSE:IVZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,287,134 shares of the asset manager's stock, valued at approximately $57,459,000. Norges Bank owned about 0.73% of Invesco at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Invesco by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager's stock worth $45,684,000 after acquiring an additional 113,451 shares during the period. Proficio Capital Partners LLC purchased a new position in Invesco during the fourth quarter worth approximately $735,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Invesco during the fourth quarter worth approximately $424,000. Massachusetts Mutual Life Insurance Co. acquired a new position in shares of Invesco in the 3rd quarter valued at $1,428,196,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Invesco by 41.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager's stock valued at $867,000 after buying an additional 14,489 shares during the period. Hedge funds and other institutional investors own 66.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on IVZ shares. Bank of America cut their target price on Invesco from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada assumed coverage on shares of Invesco in a research note on Tuesday, January 28th. They set a "sector perform" rating and a $19.00 price objective for the company. Barclays increased their target price on Invesco from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their price target on shares of Invesco from $19.50 to $14.50 and set an "underweight" rating on the stock in a research note on Tuesday. Finally, Argus lifted their price objective on Invesco from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Invesco currently has an average rating of "Hold" and an average target price of $18.97.

Invesco Stock Performance

IVZ traded down $0.68 during trading on Tuesday, reaching $12.03. 9,483,520 shares of the company were exchanged, compared to its average volume of 4,168,212. Invesco Ltd. has a 52 week low of $11.87 and a 52 week high of $19.55. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $16.46 and a 200 day moving average of $17.27. The stock has a market cap of $5.39 billion, a P/E ratio of 10.20, a PEG ratio of 0.98 and a beta of 1.26.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS 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%. On average, sell-side analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.81%. Invesco's dividend payout ratio (DPR) is presently 69.49%.

About Invesco

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.