Goldman Sachs Group Inc. Sells 841,959 Shares of Invesco Ltd. (NYSE:IVZ)

Goldman Sachs Group Inc. lowered its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 20.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,320,911 shares of the asset manager’s stock after selling 841,959 shares during the quarter. Goldman Sachs Group Inc. owned about 0.74% of Invesco worth $59,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Gables Capital Management Inc. raised its holdings in Invesco by 74.9% during the fourth 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 in the last quarter. Orion Capital Management LLC acquired a new position in shares of Invesco during the 3rd quarter valued at about $25,000. Pinnacle Bancorp Inc. increased its holdings in shares of Invesco by 100.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 1,000 shares during the last quarter. Quarry LP bought a new position in shares of Invesco in the 4th quarter valued at approximately $37,000. Finally, Jones Financial Companies Lllp acquired a new stake in Invesco in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IVZ shares. Morgan Stanley increased their price target on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. dropped their target price on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. TD Cowen cut their target price on shares of Invesco from $21.00 to $19.50 and set a “buy” rating for the company in a research report on Wednesday, April 24th. TheStreet downgraded Invesco from a “b-” rating to a “c” rating in a research report on Friday, February 23rd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $17.00 price objective (down previously from $18.00) on shares of Invesco in a research report on Wednesday, April 24th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.79.

Invesco Trading Up 1.3 %

Shares of IVZ opened at $14.78 on Wednesday. The stock’s 50-day moving average price is $15.29 and its 200 day moving average price is $15.95. The company has a quick ratio of 6.89, a current 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 firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of -19.55, a P/E/G ratio of 1.10 and a beta of 1.46.

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

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.55%. This is an increase from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, May 13th. Invesco’s dividend payout ratio (DPR) is presently -109.33%.

Invesco Company 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.