JPMorgan Chase & Co. Increases Stock Position in Invesco Ltd. (NYSE:IVZ)

JPMorgan Chase & Co. grew its stake in Invesco Ltd. (NYSE:IVZ) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,097,568 shares of the asset manager’s stock after acquiring an additional 8,097 shares during the period. JPMorgan Chase & Co. owned about 0.24% of Invesco worth $19,273,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its holdings in shares of Invesco by 484.9% in the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 1,285 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Invesco in the second quarter valued at $30,000. Wilmington Savings Fund Society FSB purchased a new position in Invesco in the third quarter valued at $35,000. Allworth Financial LP grew its stake in Invesco by 304.0% during the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,806 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in Invesco in the 2nd quarter valued at about $61,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Price Performance

IVZ stock opened at $17.12 on Friday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7.69 billion, a P/E ratio of -18.61, a PEG ratio of 1.05 and a beta of 1.43. The business has a 50 day simple moving average of $17.77 and a 200-day simple moving average of $17.05. Invesco Ltd. has a twelve month low of $14.16 and a twelve month high of $18.94.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. Invesco’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, equities analysts anticipate that Invesco Ltd. will post 1.7 EPS for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is presently -89.13%.

Analyst Upgrades and Downgrades

IVZ has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Evercore ISI increased their target price on Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price objective on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.83.

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.