Truist Financial Corp Sells 174,760 Shares of Invesco Ltd. (NYSE:IVZ)

Truist Financial Corp lessened its position in shares of Invesco Ltd. (NYSE:IVZ) by 64.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 97,929 shares of the asset manager’s stock after selling 174,760 shares during the quarter. Truist Financial Corp’s holdings in Invesco were worth $1,712,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Massachusetts Mutual Life Insurance Co. bought a new stake in shares of Invesco during the 3rd quarter valued at about $1,428,196,000. State Street Corp lifted its stake in Invesco by 0.7% in the third quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock valued at $369,823,000 after buying an additional 151,408 shares during the period. Geode Capital Management LLC lifted its stake in Invesco by 0.9% in the third quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock valued at $179,666,000 after buying an additional 93,126 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Invesco by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock worth $79,738,000 after buying an additional 87,405 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Invesco by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,311,814 shares of the asset manager’s stock worth $75,715,000 after buying an additional 45,891 shares during the period. 66.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IVZ shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 target price (up previously from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. BMO Capital Markets upped their price objective on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley boosted their target price on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Argus upped their price target on Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.94.

Invesco Stock Performance

Shares of IVZ opened at $17.21 on Friday. Invesco Ltd. has a 52 week low of $14.16 and a 52 week high of $19.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a market capitalization of $7.73 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.98 and a beta of 1.43. The stock has a 50 day moving average price of $17.82 and a two-hundred day moving average price of $17.56.

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

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.77%. The ex-dividend date is Friday, February 14th. Invesco’s dividend payout ratio (DPR) is 69.49%.

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.