Wright Investors Service Inc. Has $818,000 Stock Position in Invesco Ltd. (NYSE:IVZ)

Wright Investors Service Inc. lowered its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 15.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,843 shares of the asset manager’s stock after selling 8,432 shares during the period. Wright Investors Service Inc.’s holdings in Invesco were worth $818,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of IVZ. State Street Corp grew its position in shares of Invesco by 58.2% in the 3rd quarter. State Street Corp now owns 25,414,143 shares of the asset manager’s stock valued at $348,174,000 after buying an additional 9,345,810 shares during the last quarter. Trian Fund Management L.P. grew its position in shares of Invesco by 18.8% in the 1st quarter. Trian Fund Management L.P. now owns 54,034,034 shares of the asset manager’s stock valued at $1,404,885,000 after buying an additional 8,560,175 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Invesco by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 52,105,335 shares of the asset manager’s stock valued at $1,201,550,000 after buying an additional 6,384,917 shares during the last quarter. Norges Bank acquired a new position in shares of Invesco in the 4th quarter valued at about $58,133,000. Finally, BlackRock Inc. lifted its stake in shares of Invesco by 5.6% in the 1st quarter. BlackRock Inc. now owns 47,752,801 shares of the asset manager’s stock valued at $783,146,000 after purchasing an additional 2,528,731 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IVZ. The Goldman Sachs Group dropped their price objective on Invesco from $18.00 to $17.75 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Wells Fargo & Company dropped their price objective on Invesco from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. TD Cowen began coverage on Invesco in a research note on Thursday, January 4th. They set an “outperform” rating and a $21.00 price target on the stock. Royal Bank of Canada upped their price target on Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 18th. Finally, StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Invesco has an average rating of “Hold” and an average price target of $17.46.

Invesco Stock Performance

IVZ stock opened at $15.27 on Friday. The firm has a market cap of $6.86 billion, a PE ratio of -20.63, a P/E/G ratio of 1.02 and a beta of 1.44. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $15.78 and a 200-day moving average of $15.39. Invesco Ltd. has a 12-month low of $12.48 and a 12-month high of $18.71.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. Invesco had a positive return on equity of 7.93% and a negative net margin of 1.70%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.39 earnings per share. Invesco’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Invesco Ltd. will post 1.73 earnings per share for the current year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend was Thursday, February 15th. Invesco’s dividend payout ratio (DPR) is -108.11%.

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.