Victory Capital Management Inc. Boosts Stock Position in Invesco Ltd. (NYSE:IVZ)

Victory Capital Management Inc. lifted its position in Invesco Ltd. (NYSE:IVZ) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,469 shares of the asset manager’s stock after purchasing an additional 6,134 shares during the quarter. Victory Capital Management Inc.’s holdings in Invesco were worth $2,484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IVZ. Russell Investments Group Ltd. boosted its holdings in Invesco by 152.4% during the 1st quarter. Russell Investments Group Ltd. now owns 54,637 shares of the asset manager’s stock valued at $906,000 after acquiring an additional 32,989 shares during the period. Acadian Asset Management LLC raised its position in Invesco by 35.5% during the 1st quarter. Acadian Asset Management LLC now owns 37,173 shares of the asset manager’s stock valued at $615,000 after purchasing an additional 9,747 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Invesco by 33.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 31,543 shares of the asset manager’s stock valued at $523,000 after purchasing an additional 7,966 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Invesco by 6.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 133,700 shares of the asset manager’s stock valued at $2,219,000 after purchasing an additional 7,858 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Invesco during the 1st quarter valued at approximately $64,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Stock Performance

Shares of IVZ opened at $17.74 on Friday. The company has a market cap of $7.97 billion, a price-to-earnings ratio of -19.28, a P/E/G ratio of 1.02 and a beta of 1.44. Invesco Ltd. has a 12 month low of $13.53 and a 12 month high of $18.94. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $17.65 and its two-hundred day simple moving average is $16.50.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted $0.35 EPS. The company’s revenue for the quarter was down 20.8% on a year-over-year basis. Research analysts anticipate that Invesco Ltd. will post 1.69 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.205 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a yield of 4.62%. Invesco’s dividend payout ratio is presently -89.13%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IVZ. Barclays upped their price target on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their target price on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and a consensus target price of $18.63.

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.