Basswood Capital Management L.L.C. Increases Stock Holdings in Invesco Ltd. $IVZ

Basswood Capital Management L.L.C. lifted its position in Invesco Ltd. (NYSE:IVZ) by 20.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,117,152 shares of the asset manager’s stock after buying an additional 190,701 shares during the period. Invesco makes up about 1.2% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 23rd biggest holding. Basswood Capital Management L.L.C.’s holdings in Invesco were worth $29,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Invesco by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 52,965,761 shares of the asset manager’s stock valued at $1,391,411,000 after purchasing an additional 947,693 shares during the period. State Street Corp grew its holdings in shares of Invesco by 1.5% in the second quarter. State Street Corp now owns 22,260,704 shares of the asset manager’s stock valued at $351,051,000 after purchasing an additional 332,340 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Invesco by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 21,330,647 shares of the asset manager’s stock valued at $489,325,000 after purchasing an additional 319,104 shares during the period. AQR Capital Management LLC grew its holdings in shares of Invesco by 5.3% in the second quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager’s stock valued at $182,491,000 after purchasing an additional 584,035 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in shares of Invesco by 13.4% in the second quarter. Alliancebernstein L.P. now owns 7,924,717 shares of the asset manager’s stock valued at $124,973,000 after purchasing an additional 939,365 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Trading Up 2.2%

Shares of IVZ stock opened at $28.90 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $12.81 billion, a PE ratio of -19.66, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60. The company has a 50-day moving average of $26.33 and a two-hundred day moving average of $26.19. Invesco Ltd. has a 1-year low of $14.45 and a 1-year high of $29.61.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, analysts predict that Invesco Ltd. will post 2.58 EPS for the current year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 3.0%. This is a boost from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, May 15th. Invesco’s payout ratio is -58.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IVZ shares. Morgan Stanley dropped their price objective on shares of Invesco from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. dropped their price objective on shares of Invesco from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Wall Street Zen lowered shares of Invesco from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Barclays upped their price objective on shares of Invesco from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group upped their price objective on shares of Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Invesco presently has a consensus rating of “Hold” and an average price target of $27.64.

About Invesco

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.