Econ Financial Services Corp Acquires 69,217 Shares of Invesco Ltd. (NYSE:IVZ)

Econ Financial Services Corp lifted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 132.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 121,534 shares of the asset manager’s stock after purchasing an additional 69,217 shares during the period. Invesco comprises about 1.2% of Econ Financial Services Corp’s investment portfolio, making the stock its 26th biggest position. Econ Financial Services Corp’s holdings in Invesco were worth $2,124,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Fisher Asset Management LLC grew its stake in shares of Invesco by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after buying an additional 87,405 shares during the last quarter. Massachusetts Mutual Life Insurance Co. purchased a new stake in Invesco during the 3rd quarter valued at about $1,428,196,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Invesco by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock worth $1,378,000 after acquiring an additional 1,020 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Invesco in the 3rd quarter worth approximately $853,000. Finally, Pacer Advisors Inc. lifted its position in Invesco by 7.8% in the fourth quarter. Pacer Advisors Inc. now owns 36,199 shares of the asset manager’s stock valued at $633,000 after purchasing an additional 2,615 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley lowered their price objective on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. UBS Group raised their target price on Invesco from $17.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $20.00 price target (up previously from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Invesco has a consensus rating of “Hold” and a consensus price target of $19.87.

Invesco Price Performance

IVZ opened at $18.43 on Wednesday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. The stock has a fifty day simple moving average of $17.74 and a two-hundred day simple moving average of $17.36. Invesco Ltd. has a 12-month low of $14.16 and a 12-month high of $19.55.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. Research analysts predict that Invesco Ltd. will post 1.85 earnings per share for the current fiscal year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, February 14th. 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.