Letko Brosseau & Associates Inc. Has $28.14 Million Stock Position in Invesco Ltd. (NYSE:IVZ)

Letko Brosseau & Associates Inc. lessened its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 1.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,609,738 shares of the asset manager’s stock after selling 16,350 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Invesco were worth $28,138,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its stake in Invesco by 1.5% in the fourth quarter. D.A. Davidson & CO. now owns 46,707 shares of the asset manager’s stock worth $816,000 after buying an additional 677 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Invesco by 6.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 11,133 shares of the asset manager’s stock valued at $195,000 after buying an additional 710 shares during the last quarter. Arizona State Retirement System boosted its position in Invesco by 0.8% in the fourth quarter. Arizona State Retirement System now owns 97,956 shares of the asset manager’s stock worth $1,712,000 after purchasing an additional 812 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Invesco by 0.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 153,250 shares of the asset manager’s stock valued at $2,677,000 after buying an additional 835 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Invesco by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 160,661 shares of the asset manager’s stock valued at $2,808,000 after buying an additional 1,010 shares in the last quarter. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Performance

Invesco stock opened at $14.82 on Monday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $19.55. The company has a market cap of $6.63 billion, a PE ratio of 12.56, a PEG ratio of 0.98 and a beta of 1.47. The company’s 50-day moving average is $14.31 and its two-hundred day moving average is $16.58.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a net margin of 12.77% and a return on equity of 8.18%. During the same period last year, the business earned $0.33 EPS. Equities analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th will be paid a $0.21 dividend. This is an increase from Invesco’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend is Wednesday, May 14th. Invesco’s dividend payout ratio (DPR) is presently 67.20%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank of Canada started coverage on Invesco in a research note on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price objective on the stock. Evercore ISI increased their price objective on shares of Invesco from $13.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 23rd. BMO Capital Markets raised their price target on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Bank of America dropped their price target on shares of Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley dropped their price target on shares of Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.25.

Invesco 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.