Allspring Global Investments Holdings LLC Lowers Stock Holdings in Invesco Ltd. (NYSE:IVZ)

Allspring Global Investments Holdings LLC trimmed its position in shares of Invesco Ltd. (NYSE:IVZ) by 30.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,366 shares of the asset manager’s stock after selling 9,904 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Invesco were worth $393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Invesco by 714.3% during the 3rd quarter. Blue Trust Inc. now owns 6,783 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 5,950 shares during the period. Claro Advisors LLC purchased a new position in Invesco during the 3rd quarter valued at about $253,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Invesco by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock valued at $1,378,000 after acquiring an additional 1,020 shares during the period. B.O.S.S. Retirement Advisors LLC boosted its holdings in Invesco by 3.5% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 72,037 shares of the asset manager’s stock valued at $1,265,000 after acquiring an additional 2,416 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in Invesco during the 3rd quarter valued at about $4,889,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IVZ. Barclays lifted their price objective on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley lifted their price objective on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.38.

Invesco Price Performance

Shares of NYSE IVZ opened at $17.78 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.80 and a current ratio of 4.91. Invesco Ltd. has a fifty-two week low of $12.68 and a fifty-two week high of $18.79. The firm has a market capitalization of $8.00 billion, a PE ratio of -19.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.44. The stock’s 50-day simple moving average is $17.24 and its 200-day simple moving average is $16.18.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business’s quarterly revenue was down 20.8% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. As a group, equities research analysts forecast that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.61%. The ex-dividend date is Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is -89.13%.

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.