KBC Group NV Sells 22,327 Shares of Invesco Ltd. (NYSE:IVZ)

KBC Group NV lessened its stake in shares of Invesco Ltd. (NYSE:IVZ) by 24.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,672 shares of the asset manager’s stock after selling 22,327 shares during the period. KBC Group NV’s holdings in Invesco were worth $1,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. increased its stake in Invesco by 24.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager’s stock worth $296,000 after acquiring an additional 3,778 shares during the period. Elevated Capital Advisors LLC increased its stake in shares of Invesco by 3.8% in the 1st quarter. Elevated Capital Advisors LLC now owns 41,084 shares of the asset manager’s stock valued at $623,000 after purchasing an additional 1,517 shares during the last quarter. Gold Investment Management Ltd. increased its stake in shares of Invesco by 16.1% in the 1st quarter. Gold Investment Management Ltd. now owns 63,700 shares of the asset manager’s stock valued at $966,000 after purchasing an additional 8,833 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Invesco by 15.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,861 shares of the asset manager’s stock valued at $864,000 after purchasing an additional 7,796 shares during the last quarter. Finally, Econ Financial Services Corp increased its stake in shares of Invesco by 24.4% in the 1st quarter. Econ Financial Services Corp now owns 151,166 shares of the asset manager’s stock valued at $2,293,000 after purchasing an additional 29,632 shares during the last quarter. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Up 1.0%

Shares of Invesco stock opened at $16.76 on Friday. Invesco Ltd. has a one year low of $11.60 and a one year high of $19.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50-day moving average is $14.90 and its 200 day moving average is $15.81. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.95 and a beta of 1.48.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a return on equity of 8.94% and a net margin of 13.14%. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend was Wednesday, May 14th. This is a positive change from Invesco’s previous quarterly dividend of $0.21. Invesco’s dividend payout ratio (DPR) is currently 67.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America decreased 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. Wells Fargo & Company reduced their price objective on Invesco from $19.50 to $14.50 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their price objective on Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. The Goldman Sachs Group boosted their price objective on Invesco from $16.25 to $16.75 and gave the stock a “neutral” rating in a research report on Friday, June 27th. Finally, Barclays boosted their price objective on Invesco from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Invesco has a consensus rating of “Hold” and an average target price of $17.48.

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.