Texas Permanent School Fund Corp Sells 29,073 Shares of Invesco Ltd. (NYSE:IVZ)

Texas Permanent School Fund Corp trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 28.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,540 shares of the asset manager’s stock after selling 29,073 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Invesco were worth $1,115,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in IVZ. Point72 Asset Management L.P. lifted its holdings in Invesco by 1,411.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock valued at $67,016,000 after purchasing an additional 3,507,900 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Invesco during the fourth quarter valued at approximately $61,795,000. Norges Bank purchased a new position in Invesco during the fourth quarter valued at approximately $59,713,000. Swedbank AB purchased a new position in Invesco during the first quarter valued at approximately $41,475,000. Finally, Ossiam lifted its holdings in Invesco by 2,712.9% during the first quarter. Ossiam now owns 680,157 shares of the asset manager’s stock valued at $11,284,000 after purchasing an additional 655,977 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on IVZ shares. The Goldman Sachs Group lowered their price target on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. StockNews.com downgraded shares of Invesco from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Barclays initiated coverage on shares of Invesco in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada upped their target price on shares of Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.98.

Invesco Price Performance

IVZ stock opened at $17.17 on Friday. Invesco Ltd. has a 52 week low of $12.48 and a 52 week high of $18.28. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $16.48 and a two-hundred day simple moving average of $15.81. The firm has a market capitalization of $7.72 billion, a P/E ratio of -22.72, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.31 earnings per share. Invesco’s quarterly revenue was down .4% compared to the same quarter last year. Analysts anticipate that Invesco Ltd. will post 1.65 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, August 16th. Invesco’s dividend payout ratio is currently -109.33%.

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.