Pallas Capital Advisors LLC Has $799,000 Stake in Invesco Ltd. (NYSE:IVZ)

Pallas Capital Advisors LLC grew its holdings in Invesco Ltd. (NYSE:IVZ) by 5.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 52,651 shares of the asset manager’s stock after acquiring an additional 2,828 shares during the period. Pallas Capital Advisors LLC’s holdings in Invesco were worth $799,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Invesco by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager’s stock worth $900,127,000 after purchasing an additional 419,389 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Invesco by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,104,545 shares of the asset manager’s stock worth $351,430,000 after purchasing an additional 274,134 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Invesco by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 10,383,206 shares of the asset manager’s stock worth $181,281,000 after purchasing an additional 134,726 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Invesco by 38.5% during the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock worth $142,385,000 after purchasing an additional 2,264,551 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Invesco by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 6,380,191 shares of the asset manager’s stock worth $111,526,000 after purchasing an additional 31,854 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IVZ has been the subject of several research reports. Bank of America dropped their price target on Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Morgan Stanley dropped their price target on Invesco from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. TD Cowen lowered Invesco from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $13.00 in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price objective on Invesco from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, Citigroup lowered their price objective on Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.32.

Invesco Trading Up 1.7%

Shares of IVZ stock opened at $15.06 on Thursday. The firm has a market capitalization of $6.74 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.98 and a beta of 1.49. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $19.55. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $14.09 and its 200 day simple moving average is $16.13.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a return on equity of 8.18% and a net margin of 12.77%. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, sell-side analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.58%. This is a positive change from Invesco’s previous quarterly dividend of $0.21. Invesco’s payout ratio is currently 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.