Invesco Ltd. (NYSE:IVZ) Stake Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in Invesco Ltd. (NYSE:IVZ - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 208,711 shares of the asset manager's stock after selling 59,378 shares during the period. Thrivent Financial for Lutherans' holdings in Invesco were worth $3,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Avior Wealth Management LLC raised its holdings in Invesco by 484.9% in the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager's stock valued at $27,000 after acquiring an additional 1,285 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Invesco in the 3rd quarter valued at about $35,000. Crews Bank & Trust bought a new position in shares of Invesco during the fourth quarter worth about $44,000. Assetmark Inc. grew its stake in Invesco by 381.5% in the fourth quarter. Assetmark Inc. now owns 3,496 shares of the asset manager's stock worth $61,000 after purchasing an additional 2,770 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Invesco by 133.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,737 shares of the asset manager's stock valued at $65,000 after buying an additional 2,136 shares during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IVZ has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Invesco from $17.00 to $19.50 and gave the stock an "underweight" rating in a research report on Wednesday, January 29th. TD Cowen decreased their price objective on shares of Invesco from $20.00 to $19.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada initiated coverage on shares of Invesco in a report on Tuesday, January 28th. They set a "sector perform" rating and a $19.00 target price on the stock. Barclays lifted their price target on shares of Invesco from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets increased their price objective on shares of Invesco from $19.00 to $21.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.94.

Remove Ads

Invesco Price Performance

Shares of Invesco stock traded down $0.38 on Friday, hitting $15.18. The company had a trading volume of 856,854 shares, compared to its average volume of 4,060,496. Invesco Ltd. has a 52 week low of $14.16 and a 52 week high of $19.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. The business has a 50-day simple moving average of $17.18 and a 200-day simple moving average of $17.42. The company has a market cap of $6.79 billion, a PE ratio of 12.85, a PEG ratio of 0.98 and a beta of 1.43.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating 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%. Research analysts expect that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were issued a $0.205 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.82 annualized dividend and a dividend yield of 5.40%. Invesco's dividend payout ratio is currently 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.