Letko Brosseau & Associates Inc. Cuts Stock Position in Invesco Ltd. $IVZ

Letko Brosseau & Associates Inc. lowered its position in Invesco Ltd. (NYSE:IVZ) by 1.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,575,463 shares of the asset manager’s stock after selling 25,675 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Invesco were worth $41,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Invesco by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 52,965,761 shares of the asset manager’s stock worth $1,391,411,000 after buying an additional 947,693 shares during the last quarter. State Street Corp boosted its position in shares of Invesco by 1.5% in the 2nd quarter. State Street Corp now owns 22,260,704 shares of the asset manager’s stock worth $351,051,000 after purchasing an additional 332,340 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Invesco by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,330,647 shares of the asset manager’s stock worth $489,325,000 after purchasing an additional 319,104 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Invesco by 5.3% in the 2nd quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager’s stock worth $182,491,000 after purchasing an additional 584,035 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Invesco by 13.4% in the second quarter. Alliancebernstein L.P. now owns 7,924,717 shares of the asset manager’s stock worth $124,973,000 after acquiring an additional 939,365 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IVZ shares. Barclays raised their price target on Invesco from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. TD Cowen raised their price target on Invesco from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Monday. Evercore set a $31.00 target price on shares of Invesco in a research report on Monday. Wall Street Zen downgraded shares of Invesco from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Invesco from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.64.

Invesco Stock Up 1.1%

NYSE:IVZ opened at $27.85 on Wednesday. The company has a market cap of $12.35 billion, a PE ratio of -18.95, a P/E/G ratio of 0.62 and a beta of 1.60. Invesco Ltd. has a twelve month low of $14.45 and a twelve month high of $29.61. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $26.07 and its two-hundred day moving average is $26.10.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Analysts anticipate that Invesco Ltd. will post 2.58 EPS for the current year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 15th were issued a $0.215 dividend. This is an increase from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.86 annualized dividend and a dividend yield of 3.1%. Invesco’s payout ratio is currently -58.50%.

Invesco Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.