Fisher Asset Management LLC Grows Position in Invesco Ltd. (NYSE:IVZ)

Fisher Asset Management LLC increased its position in Invesco Ltd. (NYSE:IVZ) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,921,248 shares of the asset manager’s stock after acquiring an additional 391,933 shares during the period. Fisher Asset Management LLC owned about 0.87% of Invesco worth $69,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IVZ. Norges Bank purchased a new position in Invesco during the fourth quarter valued at $59,713,000. PNC Financial Services Group Inc. raised its stake in shares of Invesco by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock worth $1,353,000 after buying an additional 6,994 shares during the period. ARGA Investment Management LP lifted its position in shares of Invesco by 115.7% during the 4th quarter. ARGA Investment Management LP now owns 107,164 shares of the asset manager’s stock valued at $1,912,000 after buying an additional 57,476 shares in the last quarter. Swiss National Bank bought a new position in shares of Invesco during the 4th quarter valued at approximately $11,830,000. Finally, Oak Thistle LLC purchased a new stake in Invesco in the 4th quarter worth approximately $1,166,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IVZ shares. The Goldman Sachs Group cut their price target on Invesco from $17.75 to $16.75 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. TheStreet cut shares of Invesco from a “b-” rating to a “c” rating in a research report on Friday, February 23rd. Morgan Stanley upped their target price on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. StockNews.com downgraded shares of Invesco from a “hold” rating to a “sell” rating in a report on Friday, May 31st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $17.00 target price (down from $18.00) on shares of Invesco in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.79.

Invesco Price Performance

IVZ stock opened at $14.56 on Monday. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.77. Invesco Ltd. has a 12 month low of $12.48 and a 12 month high of $18.71. The stock has a market cap of $6.55 billion, a PE ratio of -19.41, a P/E/G ratio of 1.10 and a beta of 1.46. The company has a 50-day moving average price of $15.34 and a 200 day moving average price of $15.94.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a positive return on equity of 7.84% and a negative net margin of 1.74%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. Equities research analysts anticipate that Invesco Ltd. will post 1.64 earnings per share for the current year.

Invesco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.63%. This is a boost from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, May 13th. Invesco’s payout ratio is -109.33%.

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.