Resona Asset Management Co. Ltd. Acquires New Stake in Invesco Ltd. (NYSE:IVZ)

Resona Asset Management Co. Ltd. bought a new position in shares of Invesco Ltd. (NYSE:IVZ) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,953 shares of the asset manager’s stock, valued at approximately $52,000.

A number of other institutional investors have also recently made changes to their positions in IVZ. Kovitz Investment Group Partners LLC bought a new stake in Invesco in the third quarter valued at approximately $267,000. EP Wealth Advisors LLC acquired a new position in shares of Invesco in the 3rd quarter worth approximately $186,000. National Bank of Canada FI increased its position in shares of Invesco by 19.0% during the third quarter. National Bank of Canada FI now owns 235,020 shares of the asset manager’s stock worth $4,127,000 after buying an additional 37,557 shares during the period. MML Investors Services LLC increased its position in shares of Invesco by 21.7% during the third quarter. MML Investors Services LLC now owns 25,868 shares of the asset manager’s stock worth $454,000 after buying an additional 4,620 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Invesco by 14.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 12,888 shares of the asset manager’s stock worth $226,000 after buying an additional 1,665 shares during the last quarter. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Performance

Shares of Invesco stock opened at $12.76 on Friday. Invesco Ltd. has a 52 week low of $11.60 and a 52 week 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 business has a 50 day moving average price of $16.01 and a 200-day moving average price of $17.15. The company has a market cap of $5.71 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating 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%. Equities analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Friday, February 14th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend was Friday, February 14th. Invesco’s payout ratio is currently 69.49%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. BMO Capital Markets raised their target price on Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. 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 research note on Thursday, April 3rd. Royal Bank of Canada started coverage on shares of Invesco in a research report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.10.

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.