Merit Financial Group LLC Purchases Shares of 37,281 Invesco Ltd. (NYSE:IVZ)

Merit Financial Group LLC acquired a new position in shares of Invesco Ltd. (NYSE:IVZ) in the 4th quarter, Holdings Channel.com reports. The fund acquired 37,281 shares of the asset manager’s stock, valued at approximately $652,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Massachusetts Mutual Life Insurance Co. acquired a new position in Invesco in the 3rd quarter worth $1,428,196,000. State Street Corp lifted its holdings in shares of Invesco by 0.7% in the third quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock valued at $369,823,000 after purchasing an additional 151,408 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Invesco by 0.9% during the third quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock worth $179,666,000 after buying an additional 93,126 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Invesco by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock worth $79,738,000 after buying an additional 87,405 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Invesco by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,311,814 shares of the asset manager’s stock valued at $75,715,000 after buying an additional 45,891 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IVZ shares. Morgan Stanley raised their price target on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their price target on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Royal Bank of Canada lifted their target price on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Evercore ISI upped their target price on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Barclays decreased their price target on Invesco from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.71.

Invesco Price Performance

Shares of NYSE IVZ opened at $17.43 on Thursday. The firm has a market cap of $7.83 billion, a P/E ratio of -18.94, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. The business’s 50 day moving average is $17.59 and its 200-day moving average is $17.19. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco Ltd. has a 1-year low of $14.16 and a 1-year high of $18.94.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The company’s revenue was down 20.8% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. Equities research analysts predict that Invesco Ltd. will post 1.7 earnings per share for the current year.

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.