Thrivent Financial for Lutherans Trims Holdings in Invesco Ltd. (NYSE:IVZ)

Thrivent Financial for Lutherans cut its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 22.1% during the fourth quarter, Holdings Channel reports. The firm owned 208,711 shares of the asset manager’s stock after selling 59,378 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Invesco were worth $3,648,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IVZ. Avior Wealth Management LLC increased its stake in Invesco by 484.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after buying an additional 1,285 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco during the third quarter worth $35,000. Crews Bank & Trust acquired a new stake in shares of Invesco in the fourth quarter valued at $44,000. Assetmark Inc. boosted its holdings in Invesco by 381.5% in the fourth quarter. Assetmark Inc. now owns 3,496 shares of the asset manager’s stock valued at $61,000 after purchasing an additional 2,770 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Invesco by 133.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,737 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 2,136 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IVZ. TD Cowen reduced their price target on Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. BMO Capital Markets raised their target price on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered 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. Royal Bank of Canada assumed coverage on shares of Invesco in a report on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Invesco currently has an average rating of “Hold” and a consensus price target of $19.94.

Invesco Trading Up 0.6 %

IVZ opened at $15.96 on Wednesday. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. Invesco Ltd. has a 52 week low of $14.16 and a 52 week high of $19.55. The business’s 50 day moving average is $17.23 and its two-hundred day moving average is $17.44. 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 (NYSE:IVZ) last announced its 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 net margin of 12.77% and a return on equity of 8.18%. On average, research analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were paid 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 5.14%. Invesco’s dividend payout ratio (DPR) is 69.49%.

About Invesco

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.