Letko Brosseau & Associates Inc. Has $24.53 Million Stock Position in Invesco Ltd. (NYSE:IVZ)

Letko Brosseau & Associates Inc. lessened its stake in Invesco Ltd. (NYSE:IVZ) by 0.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,639,938 shares of the asset manager’s stock after selling 14,925 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Invesco were worth $24,533,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IVZ. Family Firm Inc. bought a new stake in shares of Invesco during the second quarter valued at approximately $28,000. Gables Capital Management Inc. increased its stake in shares of Invesco by 74.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after buying an additional 700 shares during the period. Quarry LP bought a new stake in shares of Invesco during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC raised its position in shares of Invesco by 182.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock worth $44,000 after acquiring an additional 1,589 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Invesco during the first quarter valued at $52,000. 66.09% of the stock is owned by institutional investors.

Invesco Stock Performance

IVZ stock traded down $0.63 during trading hours on Friday, hitting $15.74. 2,866,463 shares of the stock were exchanged, compared to its average volume of 4,337,522. Invesco Ltd. has a 12 month low of $12.48 and a 12 month high of $18.28. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $7.08 billion, a P/E ratio of -20.99, a P/E/G ratio of 1.18 and a beta of 1.44. The company has a 50-day simple moving average of $16.29 and a two-hundred day simple moving average of $15.76.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s revenue was down .4% on a year-over-year basis. On average, analysts forecast that Invesco Ltd. will post 1.65 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.21%. The ex-dividend date was Friday, August 16th. Invesco’s dividend payout ratio (DPR) is currently -109.33%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays started coverage on Invesco in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price objective for the company. Evercore ISI boosted their price target on shares of Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group cut their price objective on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. StockNews.com lowered shares of Invesco from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Finally, Royal Bank of Canada upped their target price on shares of Invesco from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.20.

About Invesco

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.