Verdence Capital Advisors LLC Sells 9,366 Shares of Invesco Ltd. (NYSE:IVZ)

Verdence Capital Advisors LLC lowered its position in shares of Invesco Ltd. (NYSE:IVZ) by 46.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,761 shares of the asset manager’s stock after selling 9,366 shares during the period. Verdence Capital Advisors LLC’s holdings in Invesco were worth $192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of Invesco in the 3rd quarter worth $25,000. Jones Financial Companies Lllp purchased a new position in Invesco in the 3rd quarter worth about $32,000. Sentry Investment Management LLC bought a new position in Invesco during the 3rd quarter valued at about $36,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Invesco by 100.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC bought a new stake in shares of Invesco in the third quarter worth approximately $41,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IVZ has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Invesco from $21.00 to $19.50 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Morgan Stanley raised their target price on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Wells Fargo & Company reduced their price target on shares of Invesco from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Finally, TheStreet downgraded shares of Invesco from a “b-” rating to a “c” rating in a report on Friday, February 23rd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Invesco has an average rating of “Hold” and an average target price of $17.46.

Invesco Price Performance

IVZ opened at $14.59 on Wednesday. The company has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $15.45. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.77. Invesco Ltd. has a 1-year low of $12.48 and a 1-year high of $18.71.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company earned $0.39 EPS. Invesco’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Invesco Ltd. will post 1.75 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be paid a $0.205 dividend. This is a positive change from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.62%. Invesco’s dividend payout ratio is -108.11%.

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.