Rhumbline Advisers cut its stake in shares of Invesco Ltd. (NYSE:IVZ) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 708,357 shares of the asset manager’s stock after selling 27,083 shares during the quarter. Rhumbline Advisers owned 0.17% of Invesco worth $16,207,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Candriam Luxembourg S.C.A. lifted its holdings in shares of Invesco by 29.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 47,694 shares of the asset manager’s stock worth $1,091,000 after purchasing an additional 10,736 shares during the period. First Interstate Bank lifted its holdings in Invesco by 66.7% in the third quarter. First Interstate Bank now owns 7,500 shares of the asset manager’s stock valued at $172,000 after acquiring an additional 3,000 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Invesco by 8.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 62,812 shares of the asset manager’s stock valued at $1,437,000 after acquiring an additional 4,700 shares during the period. Toronto Dominion Bank lifted its holdings in Invesco by 14.3% in the third quarter. Toronto Dominion Bank now owns 301,871 shares of the asset manager’s stock valued at $6,904,000 after acquiring an additional 37,721 shares during the period. Finally, Olstein Capital Management L.P. lifted its holdings in Invesco by 8.8% in the third quarter. Olstein Capital Management L.P. now owns 432,000 shares of the asset manager’s stock valued at $9,884,000 after acquiring an additional 35,000 shares during the period. 81.65% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on IVZ. JPMorgan Chase & Co. set a $29.00 target price on Invesco and gave the company a “buy” rating in a report on Monday, September 24th. Deutsche Bank reduced their target price on Invesco from $31.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Barclays reduced their target price on Invesco from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, October 19th. Zacks Investment Research raised Invesco from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $30.00 target price on shares of Invesco in a report on Friday, October 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $30.00.
Invesco (NYSE:IVZ) last announced its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. Invesco had a return on equity of 12.25% and a net margin of 21.66%. The business had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $972.49 million. During the same quarter last year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Invesco Ltd. will post 2.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend is Friday, November 9th. Invesco’s dividend payout ratio is currently 44.44%.
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.
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