Wealthcare Capital Management LLC Sells 33,000 Shares of Invesco Ltd. (NYSE:IVZ)

Wealthcare Capital Management LLC lessened its stake in Invesco Ltd. (NYSE:IVZ) by 5.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 597,545 shares of the asset manager’s stock after selling 33,000 shares during the quarter. Invesco makes up about 0.9% of Wealthcare Capital Management LLC’s holdings, making the stock its 12th largest position. Wealthcare Capital Management LLC’s holdings in Invesco were worth $9,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Invesco by 17.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager’s stock valued at $22,472,000 after purchasing an additional 188,041 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Invesco by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager’s stock valued at $45,684,000 after purchasing an additional 113,451 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Invesco in the fourth quarter valued at approximately $735,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Invesco in the fourth quarter valued at approximately $424,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Invesco by 41.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock worth $867,000 after acquiring an additional 14,489 shares during the period. Institutional investors own 66.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on IVZ shares. Bank of America dropped their price target on Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. TD Cowen lowered Invesco from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $13.00 in a report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their price target on Invesco from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their price target on Invesco from $15.00 to $15.25 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Finally, Citigroup dropped their price target on Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.32.

Invesco Stock Performance

NYSE:IVZ opened at $14.68 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. The business has a fifty day simple moving average of $14.03 and a two-hundred day simple moving average of $16.15. Invesco Ltd. has a 1 year low of $11.60 and a 1 year high of $19.55. The company has a market capitalization of $6.57 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.98 and a beta of 1.49.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Invesco had a return on equity of 8.18% and a net margin of 12.77%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted $0.33 earnings per share. On average, analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This is a boost from Invesco’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 5.72%. Invesco’s payout ratio is 67.20%.

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.