Exchange Traded Concepts LLC Boosts Stock Position in Invesco Ltd. (NYSE:IVZ)

Exchange Traded Concepts LLC raised its position in shares of Invesco Ltd. (NYSE:IVZ) by 1,509.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,390 shares of the asset manager’s stock after buying an additional 5,993 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Invesco were worth $112,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IVZ. State Board of Administration of Florida Retirement System boosted its holdings in Invesco by 10.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock worth $7,718,000 after acquiring an additional 44,417 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Invesco by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock valued at $24,843,000 after buying an additional 58,332 shares during the period. Bessemer Group Inc. increased its holdings in Invesco by 5,321.9% in the first quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock valued at $1,416,000 after buying an additional 83,767 shares in the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Invesco in the first quarter worth about $1,061,000. Finally, Duality Advisers LP grew its position in shares of Invesco by 323.0% during the 1st quarter. Duality Advisers LP now owns 95,689 shares of the asset manager’s stock valued at $1,587,000 after acquiring an additional 73,065 shares during the period. 66.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IVZ has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley upped their price target on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on Invesco from $17.25 to $17.50 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays initiated coverage on Invesco in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price target on the stock. Finally, Evercore ISI upped their target price on shares of Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.88.

Invesco Price Performance

NYSE:IVZ opened at $18.04 on Wednesday. The company has a market capitalization of $8.11 billion, a P/E ratio of -24.05, a P/E/G ratio of 1.10 and a beta of 1.44. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. Invesco Ltd. has a 52 week low of $12.48 and a 52 week high of $18.79. The stock’s fifty day moving average is $17.07 and its two-hundred day moving average is $16.08.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts expect that Invesco Ltd. will post 1.66 EPS for the current year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.55%. 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.