Creative Planning Cuts Holdings in Invesco Ltd. (NYSE:IVZ)

Creative Planning cut its holdings in Invesco Ltd. (NYSE:IVZ) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,555 shares of the asset manager’s stock after selling 2,372 shares during the quarter. Creative Planning’s holdings in Invesco were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IVZ. Family Firm Inc. acquired a new stake in shares of Invesco during the 2nd quarter valued at approximately $28,000. Sentry Investment Management LLC acquired a new stake in Invesco in the second quarter valued at $30,000. Quarry LP purchased a new position in shares of Invesco in the fourth quarter valued at $37,000. Fidelis Capital Partners LLC acquired a new position in shares of Invesco during the 1st quarter worth $52,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Invesco by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after buying an additional 1,210 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Stock Up 0.2 %

Shares of Invesco stock opened at $17.73 on Tuesday. The company has a fifty day moving average price of $16.83 and a 200 day moving average price of $16.02. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of -23.64, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68. Invesco Ltd. has a twelve month low of $12.48 and a twelve month high of $18.28.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business earned $0.31 EPS. The business’s revenue was down .4% on a year-over-year basis. Equities research analysts forecast that Invesco Ltd. will post 1.66 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Friday, August 16th. Invesco’s dividend payout ratio (DPR) is currently -109.33%.

Wall Street Analyst Weigh In

IVZ has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, October 9th. Barclays began coverage on Invesco in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group lifted their price target on shares of Invesco from $17.25 to $17.50 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Invesco has a consensus rating of “Hold” and a consensus price target of $17.42.

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.