Pallas Capital Advisors LLC bought a new stake in Invesco Ltd. (NYSE:IVZ - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 43,934 shares of the asset manager's stock, valued at approximately $774,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Insight Folios Inc increased its stake in shares of Invesco by 6.2% in the third quarter. Insight Folios Inc now owns 422,711 shares of the asset manager's stock valued at $7,423,000 after purchasing an additional 24,517 shares during the period. State of Alaska Department of Revenue grew its holdings in Invesco by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 52,316 shares of the asset manager's stock worth $918,000 after buying an additional 3,545 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Invesco by 591.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 82,603 shares of the asset manager's stock valued at $1,451,000 after acquiring an additional 70,653 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its position in Invesco by 39.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 27,948 shares of the asset manager's stock worth $491,000 after acquiring an additional 7,898 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Invesco by 75.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,576 shares of the asset manager's stock worth $610,000 after purchasing an additional 14,844 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on IVZ. Morgan Stanley lifted their price objective on shares of Invesco from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Barclays upped their price objective on Invesco from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on Invesco from $16.50 to $17.50 and gave the stock an "underweight" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on shares of Invesco from $17.50 to $19.50 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, UBS Group boosted their target price on shares of Invesco from $17.50 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. One investment analyst has 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, the company currently has a consensus rating of "Hold" and an average target price of $18.38.
Check Out Our Latest Stock Report on Invesco
Invesco Stock Down 2.6 %
NYSE IVZ traded down $0.47 during trading on Thursday, hitting $17.34. 4,313,288 shares of the company traded hands, compared to its average volume of 4,225,301. Invesco Ltd. has a 12 month low of $12.68 and a 12 month high of $18.79. The business has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $16.16. The company has a market capitalization of $7.80 billion, a P/E ratio of -18.85, a PEG ratio of 1.04 and a beta of 1.44. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.41.
Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a positive return on equity of 8.01% and a negative net margin of 3.00%. The firm's revenue was down 20.8% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. As a group, sell-side analysts predict that Invesco Ltd. will post 1.67 EPS for the current year.
Invesco Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be issued a $0.205 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.82 annualized dividend and a yield of 4.73%. Invesco's dividend payout ratio (DPR) is presently -89.13%.
Invesco Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Invesco, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco wasn't on the list.
While Invesco currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
