Wedge Capital Management L L P NC Buys Shares of 1,265,865 Invesco Ltd. $IVZ

Wedge Capital Management L L P NC acquired a new stake in shares of Invesco Ltd. (NYSE:IVZ) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,265,865 shares of the asset manager’s stock, valued at approximately $33,254,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IVZ. Citigroup Inc. boosted its holdings in Invesco by 53.3% in the 3rd quarter. Citigroup Inc. now owns 732,436 shares of the asset manager’s stock worth $16,802,000 after buying an additional 254,501 shares during the period. Convergence Investment Partners LLC purchased a new stake in Invesco during the 3rd quarter valued at approximately $3,021,000. Jackson Creek Investment Advisors LLC purchased a new stake in Invesco during the 3rd quarter valued at approximately $1,130,000. Thrivent Financial for Lutherans raised its position in shares of Invesco by 83.5% during the third quarter. Thrivent Financial for Lutherans now owns 631,046 shares of the asset manager’s stock valued at $14,476,000 after buying an additional 287,219 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Invesco by 177.2% in the third quarter. Sequoia Financial Advisors LLC now owns 27,841 shares of the asset manager’s stock worth $639,000 after buying an additional 17,798 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Stock Performance

Shares of NYSE:IVZ opened at $23.22 on Friday. The firm’s 50 day simple moving average is $25.84 and its 200-day simple moving average is $25.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.38 and a current ratio of 1.38. Invesco Ltd. has a one year low of $11.60 and a one year high of $29.61. The firm has a market cap of $10.30 billion, a PE ratio of -14.51, a price-to-earnings-growth ratio of 0.46 and a beta of 1.68.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, January 27th. The asset manager reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. Invesco had a positive return on equity of 10.26% and a negative net margin of 6.92%.Invesco’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. As a group, equities analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Friday, February 13th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. Invesco’s dividend payout ratio is -52.50%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada cut their target price on shares of Invesco from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Invesco in a report on Monday, December 29th. BMO Capital Markets lifted their target price on Invesco from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft raised Invesco from a “hold” rating to a “buy” rating and increased their price target for the company from $26.00 to $31.00 in a research note on Wednesday, December 17th. Finally, Wall Street Zen downgraded Invesco from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Invesco currently has an average rating of “Hold” and an average target price of $28.46.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.