Olstein Capital Management L.P. Cuts Stock Position in Invesco Ltd. (NYSE:IVZ)

Olstein Capital Management L.P. lessened its holdings in Invesco Ltd. (NYSE:IVZ) by 19.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 380,020 shares of the asset manager’s stock after selling 89,980 shares during the quarter. Olstein Capital Management L.P.’s holdings in Invesco were worth $5,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Invesco by 41.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock worth $867,000 after buying an additional 14,489 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Invesco by 11.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 15,710 shares of the asset manager’s stock worth $275,000 after acquiring an additional 1,561 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Invesco by 4.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,170 shares of the asset manager’s stock valued at $1,436,000 after acquiring an additional 3,718 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Invesco by 51.7% in the fourth quarter. Apollon Wealth Management LLC now owns 23,444 shares of the asset manager’s stock valued at $410,000 after acquiring an additional 7,986 shares during the last quarter. Finally, Entropy Technologies LP grew its position in shares of Invesco by 176.3% during the 4th quarter. Entropy Technologies LP now owns 62,995 shares of the asset manager’s stock valued at $1,101,000 after acquiring an additional 40,195 shares during the period. 66.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America reduced their price objective on Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Citigroup dropped their price target on Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. cut their price target on Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Barclays lifted their price objective on Invesco from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 23rd. Finally, TD Cowen cut Invesco from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $13.00 in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.25.

Invesco Stock Up 1.0%

Shares of NYSE IVZ opened at $14.39 on Monday. The business has a 50-day simple moving average of $14.05 and a two-hundred day simple moving average of $16.17. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $19.55. The company has a market cap of $6.44 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.98 and a beta of 1.49. 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 posted its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Invesco had a net margin of 12.77% and a return on equity of 8.18%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm posted $0.33 EPS. Research analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Wednesday, May 14th were issued a $0.21 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.84 annualized dividend and a dividend yield of 5.84%. This is a boost from Invesco’s previous quarterly dividend of $0.21. Invesco’s dividend payout ratio is presently 67.20%.

Invesco 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.