Illinois Municipal Retirement Fund Has $3.65 Million Holdings in Invesco Ltd. (NYSE:IVZ)

Illinois Municipal Retirement Fund lifted its stake in shares of Invesco Ltd. (NYSE:IVZ) by 41.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 204,606 shares of the asset manager’s stock after buying an additional 60,394 shares during the period. Illinois Municipal Retirement Fund’s holdings in Invesco were worth $3,650,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Verdence Capital Advisors LLC boosted its position in shares of Invesco by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager’s stock valued at $292,000 after buying an additional 843 shares during the last quarter. MCF Advisors LLC lifted its holdings in Invesco by 16.1% during the fourth quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock worth $110,000 after acquiring an additional 855 shares during the period. Pinnacle Bancorp Inc. lifted its holdings in Invesco by 100.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after acquiring an additional 1,000 shares during the period. Wright Investors Service Inc. lifted its holdings in Invesco by 2.1% during the third quarter. Wright Investors Service Inc. now owns 54,275 shares of the asset manager’s stock worth $788,000 after acquiring an additional 1,102 shares during the period. Finally, Paralel Advisors LLC lifted its holdings in Invesco by 1.3% during the third quarter. Paralel Advisors LLC now owns 116,749 shares of the asset manager’s stock worth $1,695,000 after acquiring an additional 1,458 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Price Performance

NYSE:IVZ opened at $14.52 on Thursday. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.54. Invesco Ltd. has a 52-week low of $12.48 and a 52-week high of $18.71. The business’s fifty day moving average is $15.73 and its 200 day moving average is $15.44.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Invesco Ltd. will post 1.75 earnings per share for the current fiscal year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.65%. This is a boost from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, May 13th. Invesco’s payout ratio is presently -106.67%.

Analyst Ratings Changes

Several brokerages have issued reports on IVZ. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $17.00 target price (down from $19.00) on shares of Invesco in a research note on Wednesday. Morgan Stanley boosted their target price on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. BMO Capital Markets restated a “market perform” rating and issued a $17.00 target price (down from $18.00) on shares of Invesco in a research note on Wednesday. Finally, The Goldman Sachs Group lowered their target price on Invesco from $17.75 to $16.75 and set a “neutral” rating on the stock in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.79.

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.