Stifel Financial Corp Sells 43,403 Shares of Invesco Ltd. (NYSE:IVZ)

Stifel Financial Corp reduced its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 17.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 199,347 shares of the asset manager's stock after selling 43,403 shares during the quarter. Stifel Financial Corp's holdings in Invesco were worth $3,501,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IVZ. Avior Wealth Management LLC raised its stake in Invesco by 484.9% in the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager's stock worth $27,000 after buying an additional 1,285 shares in the last quarter. Family Firm Inc. bought a new position in shares of Invesco in the 2nd quarter worth approximately $28,000. Sentry Investment Management LLC purchased a new position in shares of Invesco in the 2nd quarter valued at approximately $30,000. Allworth Financial LP boosted its position in shares of Invesco by 304.0% during the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager's stock valued at $42,000 after purchasing an additional 1,806 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in Invesco in the second quarter worth $61,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on IVZ. UBS Group raised their price objective on Invesco from $17.50 to $19.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Morgan Stanley boosted their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Barclays upped their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Invesco from $18.00 to $19.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group upped their price target on Invesco from $17.50 to $19.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.63.

Invesco Stock Performance

Shares of Invesco stock traded down $0.29 during trading on Tuesday, hitting $17.80. 2,442,157 shares of the company's stock traded hands, compared to its average volume of 4,103,341. Invesco Ltd. has a 1 year low of $14.16 and a 1 year high of $18.94. The business has a 50-day simple moving average of $17.91 and a 200-day simple moving average of $16.78. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market capitalization of $8.00 billion, a P/E ratio of -19.34, a PEG ratio of 1.06 and a beta of 1.43.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $0.35 earnings per share. The business's revenue for the quarter was down 20.8% on a year-over-year basis. As a group, analysts forecast that Invesco Ltd. will post 1.69 EPS for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a yield of 4.61%. Invesco's dividend payout ratio is presently -89.13%.

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.