Pzena Investment Management LLC Sells 36,201 Shares of Invesco Ltd. (NYSE:IVZ)

Pzena Investment Management LLC lessened its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,120,370 shares of the asset manager’s stock after selling 36,201 shares during the quarter. Pzena Investment Management LLC owned about 0.25% of Invesco worth $19,987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IVZ. Orion Capital Management LLC bought a new position in Invesco during the third quarter worth about $25,000. Gables Capital Management Inc. boosted its position in Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after purchasing an additional 700 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Invesco in the third quarter worth about $32,000. Sentry Investment Management LLC bought a new position in shares of Invesco in the third quarter valued at approximately $36,000. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Invesco by 100.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IVZ shares. JPMorgan Chase & Co. cut their price objective on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Wells Fargo & Company cut their price objective on shares of Invesco from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. BMO Capital Markets restated a “market perform” rating and issued a $17.00 price objective (down from $18.00) on shares of Invesco in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $17.00 price objective (down from $19.00) on shares of Invesco in a research report on Wednesday, April 24th. Finally, TheStreet lowered shares of Invesco from a “b-” rating to a “c” rating in a research report on Friday, February 23rd. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Invesco presently has an average rating of “Hold” and an average price target of $16.79.

Invesco Stock Performance

Shares of IVZ traded down $0.19 during mid-day trading on Thursday, reaching $15.60. The company’s stock had a trading volume of 393,856 shares, compared to its average volume of 4,682,256. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.77. Invesco Ltd. has a 52 week low of $12.48 and a 52 week high of $18.71. The company’s fifty day moving average price is $15.61 and its two-hundred day moving average price is $15.73.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a positive return on equity of 7.84% and a negative net margin of 1.74%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, equities research analysts expect that Invesco Ltd. will post 1.64 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.26%. This is a positive change from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, May 13th. Invesco’s payout ratio is presently -109.33%.

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.