Assetmark Inc. Grows Stock Position in Invesco Ltd. (NYSE:IVZ)

Assetmark Inc. boosted its stake in Invesco Ltd. (NYSE:IVZ) by 381.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,496 shares of the asset manager’s stock after acquiring an additional 2,770 shares during the quarter. Assetmark Inc.’s holdings in Invesco were worth $61,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC raised its position in shares of Invesco by 484.9% in the 3rd 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. Wilmington Savings Fund Society FSB acquired a new position in shares of Invesco in the 3rd quarter valued at approximately $35,000. Crews Bank & Trust acquired a new position in shares of Invesco in the 4th quarter valued at approximately $44,000. Truvestments Capital LLC acquired a new position in shares of Invesco in the 3rd quarter valued at approximately $76,000. Finally, True Wealth Design LLC acquired a new position in shares of Invesco in the 3rd quarter valued at approximately $77,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IVZ. UBS Group upped their target price on Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $20.00 price objective (up from $18.00) on shares of Invesco in a research note on Wednesday, January 29th. The Goldman Sachs Group upped their price objective on Invesco from $19.00 to $20.75 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, TD Cowen lowered their price objective on Invesco from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.94.

Invesco Trading Up 2.4 %

Shares of IVZ stock opened at $15.32 on Friday. The stock has a 50-day simple moving average of $17.42 and a 200 day simple moving average of $17.49. Invesco Ltd. has a fifty-two week low of $14.16 and a fifty-two week high of $19.55. The stock has a market capitalization of $6.86 billion, a P/E ratio of 12.98, a P/E/G ratio of 0.98 and a beta of 1.43. 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 (NYSE:IVZ) last announced its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Friday, February 14th. Invesco’s dividend payout ratio is 69.49%.

About Invesco

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.