Vestcor Inc Makes New $559,000 Investment in Invesco Ltd. (NYSE:IVZ)

Vestcor Inc bought a new position in shares of Invesco Ltd. (NYSE:IVZ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 32,000 shares of the asset manager’s stock, valued at approximately $559,000.

A number of other institutional investors also recently bought and sold shares of IVZ. Avior Wealth Management LLC raised its stake in Invesco by 484.9% during the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after purchasing an additional 1,285 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Invesco during the third quarter worth about $35,000. Crews Bank & Trust purchased a new position in Invesco during the fourth quarter worth about $44,000. Assetmark Inc. raised its stake in Invesco by 381.5% during the fourth quarter. Assetmark Inc. now owns 3,496 shares of the asset manager’s stock worth $61,000 after purchasing an additional 2,770 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Invesco by 133.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,737 shares of the asset manager’s stock valued at $65,000 after acquiring an additional 2,136 shares during the period. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Trading Up 2.4 %

NYSE IVZ opened at $15.32 on Monday. 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 Ltd. has a 52 week low of $14.16 and a 52 week high of $19.55. The stock has a market capitalization of $6.86 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. The firm has a 50 day moving average of $17.42 and a two-hundred day moving average of $17.49.

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

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.35%. The ex-dividend date was Friday, February 14th. Invesco’s dividend payout ratio (DPR) is presently 69.49%.

Wall Street Analysts Forecast Growth

IVZ has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. TD Cowen reduced their price target on shares of Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. UBS Group boosted their price target on shares of Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price target on shares of Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Finally, Barclays boosted their price target on shares of Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.94.

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.