Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,878 Shares of Invesco Ltd. (NYSE:IVZ)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Invesco Ltd. (NYSE:IVZ) by 9.1% in the third quarter, Holdings Channel reports. The institutional investor owned 70,669 shares of the asset manager’s stock after buying an additional 5,878 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Invesco were worth $1,241,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IVZ. Centennial Wealth Advisory LLC boosted its position in shares of Invesco by 3.8% during the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock valued at $273,000 after buying an additional 669 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Invesco by 1.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock worth $1,001,000 after buying an additional 946 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Invesco by 6.1% in the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock worth $249,000 after acquiring an additional 963 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Invesco by 11.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock valued at $155,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Invesco by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock valued at $1,378,000 after acquiring an additional 1,020 shares during the period. 66.09% of the stock is currently owned by institutional investors.

Invesco Stock Performance

Shares of IVZ stock opened at $17.91 on Friday. Invesco Ltd. has a 12-month low of $14.16 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 stock has a 50 day simple moving average of $17.82 and a 200-day simple moving average of $16.63. The company has a market cap of $8.05 billion, a price-to-earnings ratio of -19.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43.

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

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is currently -89.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IVZ shares. UBS Group raised their target price on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley upped their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group increased their price target on shares of Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Evercore ISI lifted 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.63.

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.