Element Wealth LLC Sells 3,134 Shares of Invesco Ltd. (NYSE:IVZ)

Element Wealth LLC decreased its position in shares of Invesco Ltd. (NYSE:IVZ) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,377 shares of the asset manager’s stock after selling 3,134 shares during the quarter. Element Wealth LLC’s holdings in Invesco were worth $346,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Kentucky Retirement Systems bought a new stake in Invesco in the 3rd quarter valued at about $528,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Invesco during the third quarter worth $236,000. SG Americas Securities LLC increased its holdings in shares of Invesco by 97.8% in the third quarter. SG Americas Securities LLC now owns 197,182 shares of the asset manager’s stock worth $2,863,000 after purchasing an additional 97,487 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Invesco in the third quarter worth $255,000. Finally, Czech National Bank increased its holdings in shares of Invesco by 44.6% in the third quarter. Czech National Bank now owns 78,409 shares of the asset manager’s stock worth $1,138,000 after purchasing an additional 24,171 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Stock Down 6.4 %

Invesco stock traded down $1.00 during mid-day trading on Tuesday, reaching $14.58. The stock had a trading volume of 11,174,064 shares, compared to its average volume of 4,694,310. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of -19.86, a PEG ratio of 1.02 and a beta of 1.44. The company has a 50-day moving average price of $15.76 and a two-hundred day moving average price of $15.44. Invesco Ltd. has a one year low of $12.48 and a one year high of $18.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.01 and a quick ratio of 5.01.

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

Invesco Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IVZ shares. Keefe, Bruyette & Woods reduced their price target on Invesco from $21.00 to $19.50 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. TD Cowen assumed coverage on shares of Invesco in a report on Thursday, January 4th. They issued an “outperform” rating and a $21.00 price target on the stock. Morgan Stanley lifted their price target on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Finally, UBS Group dropped their target price on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Invesco presently has an average rating of “Hold” and a consensus target price of $17.46.

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.