Reinhart Partners Inc. Reduces Position in Invesco Ltd. (IVZ)

Reinhart Partners Inc. cut its stake in Invesco Ltd. (NYSE:IVZ) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,195,492 shares of the asset manager’s stock after selling 49,847 shares during the quarter. Invesco accounts for about 2.1% of Reinhart Partners Inc.’s portfolio, making the stock its 18th biggest position. Reinhart Partners Inc.’s holdings in Invesco were worth $20,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Invesco by 80.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,689 shares of the asset manager’s stock worth $130,000 after purchasing an additional 2,539 shares during the last quarter. First Interstate Bank raised its stake in shares of Invesco by 66.7% in the third quarter. First Interstate Bank now owns 7,500 shares of the asset manager’s stock worth $172,000 after purchasing an additional 3,000 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in shares of Invesco in the third quarter worth approximately $173,000. Gideon Capital Advisors Inc. purchased a new stake in shares of Invesco in the third quarter worth approximately $211,000. Finally, First Hawaiian Bank purchased a new stake in shares of Invesco in the third quarter worth approximately $227,000. 79.67% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently commented on IVZ shares. JPMorgan Chase & Co. set a $29.00 price objective on Invesco and gave the stock a “buy” rating in a research note on Monday, September 24th. Zacks Investment Research raised Invesco from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Deutsche Bank increased their price objective on Invesco from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. UBS Group lowered their price objective on Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, October 8th. Finally, Morgan Stanley lowered their price objective on Invesco from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $25.18.

IVZ stock opened at $18.84 on Tuesday. The company has a market capitalization of $7.75 billion, a PE ratio of 6.98, a price-to-earnings-growth ratio of 0.99 and a beta of 1.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.55 and a quick ratio of 1.55. Invesco Ltd. has a 12-month low of $15.38 and a 12-month high of $38.43.

Invesco (NYSE:IVZ) last released its earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $966.90 million during the quarter, compared to analyst estimates of $972.49 million. Invesco had a return on equity of 12.25% and a net margin of 21.66%. Invesco’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Analysts anticipate that Invesco Ltd. will post 2.57 earnings per share for the current fiscal year.

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Invesco Company Profile

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.

Further Reading: Do investors pay a separate front-end load every time they buy additional shares?

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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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