Advisors Asset Management Inc. Purchases 6,843 Shares of Invesco Ltd. (NYSE:IVZ)

Advisors Asset Management Inc. raised its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 61.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,066 shares of the asset manager’s stock after purchasing an additional 6,843 shares during the quarter. Advisors Asset Management Inc.’s holdings in Invesco were worth $317,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Avior Wealth Management LLC increased its position in shares of Invesco by 484.9% during the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after acquiring an additional 1,285 shares in the last quarter. Family Firm Inc. bought a new stake in Invesco during the 2nd quarter worth approximately $28,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco in the second quarter worth approximately $30,000. Allworth Financial LP lifted its holdings in shares of Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 1,806 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Invesco by 50.0% during the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock valued at $60,000 after buying an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

IVZ has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group upped their target price on Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Invesco currently has a consensus rating of “Hold” and a consensus price target of $18.63.

Invesco Stock Performance

NYSE:IVZ opened at $18.04 on Friday. Invesco Ltd. has a 1 year low of $13.53 and a 1 year 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 business has a fifty day simple moving average of $17.74 and a two-hundred day simple moving average of $16.56. The company has a market capitalization of $8.11 billion, a P/E ratio of -19.61, a P/E/G ratio of 1.05 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 20.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. On average, analysts expect that Invesco Ltd. will post 1.69 earnings per share for the current year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Thursday, November 14th. Invesco’s payout ratio is currently -89.13%.

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.