Invesco Ltd. (IVZ) Stake Lowered by Teachers Advisors LLC
Teachers Advisors LLC decreased its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 2.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 716,479 shares of the asset manager’s stock after selling 16,735 shares during the period. Teachers Advisors LLC’s holdings in Invesco were worth $16,393,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Invesco by 80.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,689 shares of the asset manager’s stock valued at $130,000 after buying an additional 2,539 shares during the last quarter. First Interstate Bank lifted its holdings in Invesco by 66.7% in the third quarter. First Interstate Bank now owns 7,500 shares of the asset manager’s stock valued at $172,000 after acquiring an additional 3,000 shares during the period. Creative Financial Designs Inc. ADV bought a new position in Invesco in the third quarter valued at about $173,000. Gideon Capital Advisors Inc. bought a new position in Invesco in the third quarter valued at about $211,000. Finally, First Hawaiian Bank bought a new position in Invesco in the third quarter valued at about $227,000. 79.67% of the stock is owned by institutional investors.
Shares of NYSE IVZ traded up $0.12 during trading on Monday, hitting $18.12. The company had a trading volume of 14,307 shares, compared to its average volume of 4,773,277. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.82. Invesco Ltd. has a 12 month low of $15.38 and a 12 month high of $35.03. The company has a market capitalization of $7.40 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 1.06 and a beta of 1.50.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend is Wednesday, February 13th. Invesco’s dividend payout ratio is currently 49.38%.
A number of research firms have weighed in on IVZ. Barclays lowered their target price on Invesco from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, October 19th. Credit Suisse Group reissued a “neutral” rating and issued a $27.00 target price (down previously from $34.00) on shares of Invesco in a report on Friday, October 19th. Royal Bank of Canada reissued a “buy” rating and issued a $30.00 target price on shares of Invesco in a report on Friday, October 19th. Wells Fargo & Co downgraded Invesco from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $27.00 to $22.00 in a report on Tuesday, December 4th. Finally, Zacks Investment Research raised Invesco from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.70.
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.
Further Reading: Liquidity
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