Redwood Investment Management LLC Reduces Stock Position in Invesco Ltd. (NYSE:IVZ)

Redwood Investment Management LLC reduced its stake in Invesco Ltd. (NYSE:IVZ) by 17.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,174 shares of the asset manager’s stock after selling 34,965 shares during the period. Redwood Investment Management LLC’s holdings in Invesco were worth $2,861,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Cetera Advisors LLC grew its stake in Invesco by 217.6% during the first quarter. Cetera Advisors LLC now owns 42,464 shares of the asset manager’s stock valued at $704,000 after acquiring an additional 29,095 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Invesco by 11.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock valued at $155,000 after buying an additional 1,010 shares during the period. CWM LLC grew its position in Invesco by 37.4% during the second quarter. CWM LLC now owns 14,198 shares of the asset manager’s stock worth $212,000 after buying an additional 3,863 shares in the last quarter. BDF Gestion bought a new position in Invesco in the 2nd quarter worth about $452,000. Finally, QRG Capital Management Inc. raised its holdings in shares of Invesco by 5.5% in the 2nd quarter. QRG Capital Management Inc. now owns 103,047 shares of the asset manager’s stock valued at $1,542,000 after acquiring an additional 5,418 shares in 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 subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Evercore ISI lifted their price objective on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. UBS Group increased their target price on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their price objective on Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.63.

Invesco Trading Up 0.9 %

Shares of Invesco stock opened at $18.10 on Thursday. The business has a 50 day moving average of $17.80 and a 200 day moving average of $16.62. Invesco Ltd. has a 52 week low of $14.16 and a 52 week high of $18.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was down 20.8% compared to the same quarter last year. On average, equities research analysts predict that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Thursday, November 14th. Invesco’s payout ratio is presently -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.