Aviance Capital Partners LLC Reduces Holdings in Invesco Ltd. (NYSE:IVZ)

Aviance Capital Partners LLC cut its stake in Invesco Ltd. (NYSE:IVZ) by 10.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 63,102 shares of the asset manager’s stock after selling 7,241 shares during the quarter. Aviance Capital Partners LLC’s holdings in Invesco were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in IVZ. Wealthcare Advisory Partners LLC lifted its position in Invesco by 15.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 34,957 shares of the asset manager’s stock worth $624,000 after acquiring an additional 4,799 shares during the period. Channing Capital Management LLC acquired a new stake in shares of Invesco in the 4th quarter worth $8,479,000. Swiss National Bank purchased a new stake in shares of Invesco in the fourth quarter valued at about $11,830,000. Fisher Asset Management LLC increased its stake in shares of Invesco by 11.1% during the fourth quarter. Fisher Asset Management LLC now owns 3,921,250 shares of the asset manager’s stock worth $69,955,000 after acquiring an additional 391,935 shares during the period. Finally, First Trust Direct Indexing L.P. purchased a new position in Invesco during the fourth quarter worth about $358,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Trading Down 0.5 %

Shares of NYSE IVZ traded down $0.07 during midday trading on Tuesday, reaching $14.88. 2,884,796 shares of the stock were exchanged, compared to its average volume of 4,737,665. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $6.68 billion, a P/E ratio of -19.93, a P/E/G ratio of 1.12 and a beta of 1.45. The stock has a 50 day moving average price of $15.58 and a 200-day moving average price of $15.52. Invesco Ltd. has a 52-week low of $12.48 and a 52-week high of $18.71.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.08 billion. Invesco had a positive return on equity of 7.84% and a negative net margin of 1.74%. Invesco’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. Equities research analysts expect that Invesco Ltd. will post 1.65 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.51%. This is an increase from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio is currently -106.67%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IVZ. TD Cowen decreased their price target on Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. UBS Group dropped their price objective on Invesco from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. JPMorgan Chase & Co. lowered their target price on Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $17.00 price target (down previously from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Invesco from $17.75 to $16.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.79.

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.