Corebridge Financial Inc. Sells 5,263 Shares of Invesco Ltd. (NYSE:IVZ)

Corebridge Financial Inc. reduced its position in Invesco Ltd. (NYSE:IVZ) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,836 shares of the asset manager’s stock after selling 5,263 shares during the quarter. Corebridge Financial Inc.’s holdings in Invesco were worth $1,850,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Invesco by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager’s stock valued at $900,127,000 after buying an additional 419,389 shares during the period. Fox Run Management L.L.C. lifted its stake in shares of Invesco by 58.4% in the 4th quarter. Fox Run Management L.L.C. now owns 46,448 shares of the asset manager’s stock valued at $812,000 after purchasing an additional 17,123 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Invesco in the 4th quarter valued at about $1,213,000. Quantbot Technologies LP boosted its position in shares of Invesco by 33.3% during the 4th quarter. Quantbot Technologies LP now owns 106,920 shares of the asset manager’s stock valued at $1,869,000 after purchasing an additional 26,704 shares in the last quarter. Finally, Sciencast Management LP acquired a new stake in Invesco during the fourth quarter worth approximately $592,000. 66.09% of the stock is owned by institutional investors.

Invesco Stock Up 3.6 %

Shares of NYSE:IVZ opened at $15.73 on Thursday. The business’s 50 day moving average is $17.02 and its 200 day moving average is $17.41. Invesco Ltd. has a 12-month low of $14.16 and a 12-month high of $19.55. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 13.33, a PEG 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 posted its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. On average, sell-side analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date was Friday, February 14th. Invesco’s payout ratio is 69.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Citigroup cut their target price on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday. UBS Group lifted their price target on shares of Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Argus upped their price objective on shares of Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada initiated coverage on Invesco in a research note on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.66.

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.