Invesco Ltd. (NYSE:IVZ) Stake Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in Invesco Ltd. (NYSE:IVZ) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,964 shares of the asset manager’s stock after purchasing an additional 4,840 shares during the period. CIBC Asset Management Inc’s holdings in Invesco were worth $1,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in shares of Invesco by 152.4% during the first 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. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Invesco by 684.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 122,986 shares of the asset manager’s stock valued at $2,028,000 after purchasing an additional 107,302 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Invesco by 35.5% during the first quarter. Acadian Asset Management LLC now owns 37,173 shares of the asset manager’s stock valued at $615,000 after buying an additional 9,747 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of Invesco by 4.4% during the first quarter. Edgestream Partners L.P. now owns 47,298 shares of the asset manager’s stock worth $785,000 after buying an additional 2,009 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in Invesco by 33.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 31,543 shares of the asset manager’s stock worth $523,000 after buying an additional 7,966 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on IVZ shares. Evercore ISI boosted their price target on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Barclays raised their target price on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. UBS Group increased their price objective on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. 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’s stock. According to data from MarketBeat, Invesco currently has a consensus rating of “Hold” and an average target price of $18.63.

Invesco Stock Performance

IVZ stock opened at $17.41 on Thursday. The company has a 50 day moving average price of $17.58 and a 200 day moving average price of $16.46. Invesco Ltd. has a fifty-two week low of $13.53 and a fifty-two week high of $18.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market capitalization of $7.82 billion, a PE ratio of -18.92, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The business 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 firm’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Analysts forecast that Invesco Ltd. will post 1.69 EPS for the current year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Thursday, November 14th. Invesco’s dividend payout ratio is -89.13%.

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.