Alexander Randolph Advisory Inc. Reduces Stock Position in Invesco Ltd. (NYSE:IVZ)

Alexander Randolph Advisory Inc. decreased its position in Invesco Ltd. (NYSE:IVZ) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 134,115 shares of the asset manager’s stock after selling 3,965 shares during the quarter. Invesco comprises about 2.1% of Alexander Randolph Advisory Inc.’s holdings, making the stock its 18th largest position. Alexander Randolph Advisory Inc.’s holdings in Invesco were worth $2,355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Invesco by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after buying an additional 3,349,069 shares during the last quarter. Swedbank AB purchased a new stake in Invesco in the 1st quarter worth approximately $41,475,000. Bank of New York Mellon Corp raised its holdings in Invesco by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager’s stock valued at $37,241,000 after acquiring an additional 30,016 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Invesco by 19.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,364,232 shares of the asset manager’s stock worth $35,274,000 after purchasing an additional 377,786 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IVZ has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Barclays increased their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their target price on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. UBS Group increased their price target on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. 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’s stock. According to MarketBeat, Invesco currently has an average rating of “Hold” and a consensus target price of $18.63.

Invesco Stock Up 0.7 %

Invesco stock traded up $0.13 during trading on Wednesday, reaching $17.92. 613,916 shares of the company’s stock were exchanged, compared to its average volume of 4,196,426. Invesco Ltd. has a 52-week low of $13.40 and a 52-week high of $18.94. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average is $17.39 and its two-hundred day moving average is $16.35.

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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The company’s revenue was down 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, analysts forecast that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.58%. Invesco’s dividend payout ratio is currently -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.