Bank of Nova Scotia Lowers Holdings in Invesco Ltd. (NYSE:IVZ)

Bank of Nova Scotia trimmed its stake in shares of Invesco Ltd. (NYSE:IVZ) by 40.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,676 shares of the asset manager’s stock after selling 268,002 shares during the period. Bank of Nova Scotia owned about 0.09% of Invesco worth $6,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Invesco during the 4th quarter worth approximately $57,459,000. CIBC Private Wealth Group LLC boosted its holdings in Invesco by 2,385.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock worth $29,301,000 after buying an additional 1,642,645 shares in the last quarter. Amundi grew its position in Invesco by 124.6% during the fourth quarter. Amundi now owns 2,653,259 shares of the asset manager’s stock valued at $45,424,000 after buying an additional 1,472,178 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Invesco by 965.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 991,281 shares of the asset manager’s stock valued at $17,328,000 after buying an additional 898,210 shares in the last quarter. Finally, Ieq Capital LLC raised its position in shares of Invesco by 635.9% in the fourth quarter. Ieq Capital LLC now owns 490,242 shares of the asset manager’s stock worth $8,569,000 after acquiring an additional 423,621 shares during the period. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays raised their target price on Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on Invesco from $19.50 to $14.50 and set an “underweight” rating on the stock in a report on Tuesday. BMO Capital Markets increased their target price on Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Finally, Citigroup reduced their price objective on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a research report 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.10.

Invesco Trading Up 0.5 %

IVZ opened at $12.76 on Friday. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. The company’s 50 day simple moving average is $16.01 and its two-hundred day simple moving average is $17.15. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $19.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91.

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

Invesco Announces Dividend

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 dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 annualized dividend and a dividend yield of 6.43%. Invesco’s payout ratio is 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.