Rhumbline Advisers Trims Stake in Invesco Ltd. (NYSE:IVZ)

Rhumbline Advisers reduced its position in shares of Invesco Ltd. (NYSE:IVZ) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,674 shares of the asset manager’s stock after selling 16,107 shares during the period. Rhumbline Advisers owned approximately 0.15% of Invesco worth $11,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IVZ. Massachusetts Mutual Life Insurance Co. purchased a new position in shares of Invesco during the 3rd quarter valued at $1,428,196,000. Azora Capital LP purchased a new position in shares of Invesco during the 3rd quarter valued at $27,289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Invesco by 131.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager’s stock valued at $15,982,000 after purchasing an additional 516,622 shares in the last quarter. Algert Global LLC grew its position in shares of Invesco by 1,207.8% during the 3rd quarter. Algert Global LLC now owns 481,270 shares of the asset manager’s stock valued at $8,451,000 after purchasing an additional 444,470 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in Invesco in the third quarter worth $3,448,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Evercore ISI upped their target price on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. TD Cowen cut their target price on shares of Invesco from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. cut their target price on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Barclays upped their target price on shares of Invesco from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 target price (up from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.94.

Invesco Stock Performance

NYSE IVZ opened at $17.50 on Monday. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.98 and a beta of 1.43. The company has a 50-day simple moving average of $17.83 and a two-hundred day simple moving average of $17.54. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco Ltd. has a 12-month low of $14.16 and a 12-month high of $19.55.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. On average, equities analysts forecast that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, February 14th. Invesco’s dividend payout ratio (DPR) is 69.49%.

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.