Hoertkorn Richard Charles Sells 667 Shares of Invesco Ltd. (NYSE:IVZ)

Hoertkorn Richard Charles reduced its stake in Invesco Ltd. (NYSE:IVZ) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,000 shares of the asset manager’s stock after selling 667 shares during the quarter. Hoertkorn Richard Charles’ holdings in Invesco were worth $122,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Invesco by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager’s stock worth $45,684,000 after purchasing an additional 113,451 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Invesco during the fourth quarter worth $735,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Invesco during the fourth quarter worth $424,000. Massachusetts Mutual Life Insurance Co. bought a new stake in shares of Invesco in the third quarter valued at about $1,428,196,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Invesco by 41.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock valued at $867,000 after acquiring an additional 14,489 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IVZ has been the subject of a number of recent research reports. Argus boosted their price objective on shares of Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. BMO Capital Markets raised their price objective on Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. The Goldman Sachs Group raised their price target on Invesco from $19.00 to $20.75 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada began coverage on shares of Invesco in a research note on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.94.

Invesco Price Performance

Shares of IVZ opened at $15.56 on Friday. The business has a 50-day simple moving average of $17.18 and a two-hundred day simple moving average of $17.42. Invesco Ltd. has a 12-month low of $14.16 and a 12-month high of $19.55. The stock has a market cap of $6.96 billion, a PE ratio of 13.18, a PEG ratio of 0.98 and a beta of 1.43. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. Analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were given a $0.205 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.27%. Invesco’s dividend payout ratio (DPR) is currently 69.49%.

Invesco 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.