Renaissance Technologies LLC Decreases Stake in Invesco Ltd. (NYSE:IVZ)

Renaissance Technologies LLC trimmed its position in Invesco Ltd. (NYSE:IVZ) by 24.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 682,200 shares of the asset manager’s stock after selling 214,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.15% of Invesco worth $10,206,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its holdings in Invesco by 10.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock worth $7,718,000 after buying an additional 44,417 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Invesco in the first quarter valued at approximately $2,066,000. Price T Rowe Associates Inc. MD raised its holdings in Invesco by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after purchasing an additional 58,332 shares in the last quarter. Norges Bank acquired a new position in shares of Invesco in the 4th quarter valued at $59,713,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Invesco by 10.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock valued at $1,353,000 after buying an additional 6,994 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on IVZ shares. Wells Fargo & Company initiated coverage on shares of Invesco in a research note on Thursday, September 12th. They issued an “underweight” rating and a $16.00 price objective for the company. Barclays initiated coverage on Invesco in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 price target on the stock. The Goldman Sachs Group reduced their price objective on Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. StockNews.com cut shares of Invesco from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.98.

Invesco Stock Down 0.2 %

IVZ opened at $17.13 on Tuesday. The business has a 50 day simple moving average of $16.53 and a 200-day simple moving average of $15.83. Invesco Ltd. has a 12 month low of $12.48 and a 12 month high of $18.28. The stock has a market capitalization of $7.71 billion, a P/E ratio of -22.84, a P/E/G ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.80 and a quick ratio of 5.80.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts anticipate that Invesco Ltd. will post 1.65 earnings per share for the current fiscal year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were given a dividend of $0.205 per share. The ex-dividend date was Friday, August 16th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.79%. Invesco’s payout ratio is -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.