Jacobs Levy Equity Management Inc. Increases Position in Invesco Ltd. (NYSE:IVZ)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 679.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 125,711 shares of the asset manager’s stock after purchasing an additional 109,582 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Invesco were worth $2,197,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. D.A. Davidson & CO. raised its stake in Invesco by 1.5% during the fourth quarter. D.A. Davidson & CO. now owns 46,707 shares of the asset manager’s stock valued at $816,000 after buying an additional 677 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings 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 acquiring an additional 710 shares in the last quarter. Arizona State Retirement System raised its position in shares of Invesco by 0.8% in the 4th 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 boosted its stake in Invesco by 0.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 153,250 shares of the asset manager’s stock worth $2,677,000 after purchasing an additional 835 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in 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 purchasing an additional 1,010 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

Invesco Price Performance

NYSE:IVZ opened at $15.33 on Friday. The firm’s fifty day moving average is $14.29 and its two-hundred day moving average is $16.54. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.98 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. Invesco Ltd. has a one year low of $11.60 and a one year high of $19.55.

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

Invesco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Wednesday, May 14th. This is a positive change from Invesco’s previous quarterly dividend of $0.21. Invesco’s dividend payout ratio is currently 67.20%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Invesco from $13.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, April 23rd. Bank of America lowered their price objective on Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. BMO Capital Markets lifted their target price on Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. TD Cowen cut Invesco from a “buy” rating to a “hold” rating and decreased their price target for the stock from $22.00 to $13.00 in a research note on Wednesday, April 9th. Finally, Barclays raised their price target on shares of Invesco from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.25.

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.