Thrivent Financial for Lutherans Purchases 37,045 Shares of Invesco Ltd. (NYSE:IVZ)

Thrivent Financial for Lutherans boosted its position in Invesco Ltd. (NYSE:IVZ) by 7.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 563,301 shares of the asset manager’s stock after purchasing an additional 37,045 shares during the period. Thrivent Financial for Lutherans’ holdings in Invesco were worth $8,427,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in shares of Invesco in the 2nd quarter worth approximately $28,000. Sentry Investment Management LLC bought a new stake in Invesco during the second quarter worth $30,000. Quarry LP purchased a new position in Invesco in the fourth quarter worth $37,000. Jones Financial Companies Lllp increased its position in shares of Invesco by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 766 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Invesco during the 1st quarter worth $52,000. 66.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. StockNews.com lowered shares of Invesco from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Royal Bank of Canada lifted their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Evercore ISI boosted their target price on Invesco from $17.00 to $18.00 and gave the company an “in-line” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.08.

Invesco Stock Performance

NYSE:IVZ opened at $17.74 on Friday. The business’s fifty day moving average is $16.59 and its 200 day moving average is $15.87. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -23.65, a PEG ratio of 1.18 and a beta of 1.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. Invesco Ltd. has a 52-week low of $12.48 and a 52-week high of $18.28.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue was down .4% on a year-over-year basis. Research analysts predict that Invesco Ltd. will post 1.65 EPS for the current year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Friday, August 16th. Invesco’s payout ratio is -109.33%.

Invesco Company 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.