NorthCrest Asset Manangement LLC Raises Holdings in Invesco Ltd. (NYSE:IVZ)

NorthCrest Asset Manangement LLC lifted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,868 shares of the asset manager’s stock after purchasing an additional 2,920 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Invesco were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IVZ. Barclays PLC increased its position in Invesco by 1.5% during the third quarter. Barclays PLC now owns 2,364,174 shares of the asset manager’s stock worth $41,516,000 after buying an additional 35,031 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Invesco by 83.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 88,446 shares of the asset manager’s stock worth $1,546,000 after purchasing an additional 40,246 shares in the last quarter. Blue Trust Inc. increased its position in Invesco by 18.0% during the 4th quarter. Blue Trust Inc. now owns 8,004 shares of the asset manager’s stock worth $141,000 after purchasing an additional 1,221 shares in the last quarter. KBC Group NV increased its position in Invesco by 264.2% during the 4th quarter. KBC Group NV now owns 89,999 shares of the asset manager’s stock worth $1,573,000 after purchasing an additional 65,285 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Invesco by 7.8% during the 4th quarter. Pacer Advisors Inc. now owns 36,199 shares of the asset manager’s stock worth $633,000 after purchasing an additional 2,615 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Stock Up 2.0%

Shares of NYSE:IVZ opened at $14.78 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $19.55. The stock has a 50-day simple moving average of $14.18 and a 200-day simple moving average of $16.32. The stock has a market capitalization of $6.61 billion, a P/E ratio of 12.52, a PEG ratio of 0.98 and a beta of 1.47.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. Invesco had a net margin of 12.77% and a return on equity of 8.18%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. Equities analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.68%. This is a boost from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, May 14th. Invesco’s dividend payout ratio is 67.20%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IVZ shares. Morgan Stanley lowered their price target on shares of Invesco from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Citigroup lowered their target price on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Evercore ISI lifted their target price on shares of Invesco from $13.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 23rd. TD Cowen downgraded Invesco from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $13.00 in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and a consensus target price of $17.25.

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.