Thrivent Financial for Lutherans Sells 182,878 Shares of Invesco Ltd. $IVZ

Thrivent Financial for Lutherans decreased its stake in shares of Invesco Ltd. (NYSE:IVZ) by 29.0% during the fourth quarter, Holdings Channel reports. The firm owned 448,168 shares of the asset manager’s stock after selling 182,878 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Invesco were worth $11,773,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in Invesco by 53.3% during the third quarter. Citigroup Inc. now owns 732,436 shares of the asset manager’s stock valued at $16,802,000 after buying an additional 254,501 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in Invesco during the third quarter valued at approximately $3,021,000. Jackson Creek Investment Advisors LLC purchased a new stake in Invesco during the third quarter valued at approximately $1,130,000. Sequoia Financial Advisors LLC increased its holdings in Invesco by 177.2% during the third quarter. Sequoia Financial Advisors LLC now owns 27,841 shares of the asset manager’s stock valued at $639,000 after buying an additional 17,798 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in Invesco during the third quarter valued at approximately $502,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IVZ has been the subject of a number of research reports. Wall Street Zen cut shares of Invesco from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings raised shares of Invesco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Argus reaffirmed a “hold” rating on shares of Invesco in a report on Wednesday, April 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Invesco in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Invesco from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.29.

Invesco Stock Performance

Shares of NYSE IVZ opened at $26.47 on Wednesday. The firm has a fifty day moving average price of $24.89 and a 200-day moving average price of $25.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market cap of $11.74 billion, a PE ratio of -18.01, a price-to-earnings-growth ratio of 0.63 and a beta of 1.60. Invesco Ltd. has a 1 year low of $14.10 and a 1 year high of $29.61.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $1.26 billion during 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 business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. Equities analysts anticipate that Invesco Ltd. will post 2.57 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Friday, May 15th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from Invesco’s previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 3.2%. Invesco’s dividend payout ratio is -58.50%.

About Invesco

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.