Toronto Dominion Bank Buys 265,289 Shares of Invesco Ltd. (NYSE:IVZ)

Toronto Dominion Bank boosted its stake in shares of Invesco Ltd. (NYSE:IVZ) by 160.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 430,851 shares of the asset manager’s stock after buying an additional 265,289 shares during the period. Toronto Dominion Bank’s holdings in Invesco were worth $7,531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in Invesco by 201.1% during the 4th quarter. Royal Bank of Canada now owns 1,035,657 shares of the asset manager’s stock valued at $18,103,000 after purchasing an additional 691,704 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Invesco by 1.8% during the 4th quarter. Rafferty Asset Management LLC now owns 170,159 shares of the asset manager’s stock valued at $2,974,000 after purchasing an additional 3,022 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Invesco by 55.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 28,891 shares of the asset manager’s stock valued at $505,000 after purchasing an additional 10,354 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Invesco during the 4th quarter valued at $133,000. Finally, Prana Capital Management LP purchased a new stake in Invesco during the 4th quarter valued at $2,961,000. Institutional investors own 66.09% of the company’s stock.

Invesco Price Performance

NYSE IVZ opened at $14.63 on Thursday. The company has a market capitalization of $6.55 billion, a PE ratio of 12.40, a price-to-earnings-growth 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. The business’s fifty day moving average is $14.29 and its 200 day moving average is $16.47. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $19.55.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company 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 period in the previous year, the business earned $0.33 earnings per share. Sell-side analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This is a boost from Invesco’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 5.74%. Invesco’s dividend payout ratio (DPR) is currently 67.20%.

Analyst Upgrades and Downgrades

Several brokerages have commented on IVZ. Bank of America cut their target price on Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 price target (up from $18.00) on shares of Invesco in a research note on Wednesday, January 29th. Morgan Stanley dropped their price target on Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company dropped their price target on Invesco from $19.50 to $14.50 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Finally, BMO Capital Markets raised their price target on Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.