Element Wealth LLC Trims Stake in Invesco Ltd. (NYSE:IVZ)

Element Wealth LLC reduced its stake in shares of Invesco Ltd. (NYSE:IVZ) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,377 shares of the asset manager’s stock after selling 3,134 shares during the quarter. Element Wealth LLC’s holdings in Invesco were worth $346,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP lifted its position in shares of Invesco by 276.8% in the third quarter. Quantbot Technologies LP now owns 81,754 shares of the asset manager’s stock valued at $1,187,000 after acquiring an additional 60,057 shares in the last quarter. Oak Thistle LLC purchased a new position in Invesco in the 4th quarter valued at $1,166,000. Northern Trust Corp boosted its stake in Invesco by 30.7% during the 3rd quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock worth $86,306,000 after purchasing an additional 1,395,023 shares during the last quarter. Raymond James & Associates raised its position in shares of Invesco by 4.5% in the third quarter. Raymond James & Associates now owns 65,917 shares of the asset manager’s stock valued at $957,000 after buying an additional 2,846 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Invesco by 99.6% in the 3rd quarter. Hsbc Holdings PLC now owns 749,137 shares of the asset manager’s stock valued at $10,912,000 after acquiring an additional 373,778 shares during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Stock Down 6.4 %

Invesco stock traded down $1.00 during midday trading on Tuesday, reaching $14.58. The company’s stock had a trading volume of 11,174,064 shares, compared to its average volume of 4,694,310. Invesco Ltd. has a fifty-two week low of $12.48 and a fifty-two week high of $18.71. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.55 billion, a P/E ratio of -19.86, a P/E/G ratio of 1.02 and a beta of 1.44. The business has a 50-day simple moving average of $15.76 and a 200-day simple moving average of $15.44.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Invesco had a positive return on equity of 7.93% and a negative net margin of 1.70%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $0.39 earnings per share. Invesco’s quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts expect that Invesco Ltd. will post 1.75 earnings per share for the current fiscal year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.62%. This is a boost from Invesco’s previous quarterly dividend of $0.20. Invesco’s payout ratio is -108.11%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IVZ shares. UBS Group cut their price target on Invesco from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Morgan Stanley raised their price target on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Royal Bank of Canada raised their price target on Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 18th. The Goldman Sachs Group decreased their target price on Invesco from $18.00 to $17.75 and set a “neutral” rating for the company in a report on Thursday, April 11th. Finally, TheStreet lowered Invesco from a “b-” rating to a “c” rating in a report on Friday, February 23rd. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.46.

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.