Wedge Capital Management L L P NC Takes $33.25 Million Position in Invesco Ltd. $IVZ

Wedge Capital Management L L P NC acquired a new position in shares of Invesco Ltd. (NYSE:IVZ) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,265,865 shares of the asset manager’s stock, valued at approximately $33,254,000. Wedge Capital Management L L P NC owned approximately 0.28% of Invesco as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of Invesco by 53.3% in the third quarter. Citigroup Inc. now owns 732,436 shares of the asset manager’s stock valued at $16,802,000 after purchasing an additional 254,501 shares during the last quarter. Convergence Investment Partners LLC bought a new stake in shares of Invesco during the 3rd quarter valued at $3,021,000. Jackson Creek Investment Advisors LLC acquired a new stake in Invesco during the third quarter worth about $1,130,000. Thrivent Financial for Lutherans raised its position in Invesco by 83.5% during the third quarter. Thrivent Financial for Lutherans now owns 631,046 shares of the asset manager’s stock valued at $14,476,000 after purchasing an additional 287,219 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Invesco by 177.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 27,841 shares of the asset manager’s stock valued at $639,000 after purchasing an additional 17,798 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on IVZ. Barclays dropped their target price on Invesco from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 28th. Wall Street Zen cut Invesco from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Invesco in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft raised shares of Invesco from a “hold” rating to a “buy” rating and increased their price target for the stock from $26.00 to $31.00 in a report on Wednesday, December 17th. Finally, Zacks Research downgraded Invesco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.46.

Invesco Stock Performance

Invesco stock opened at $23.22 on Friday. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of -14.51, a PEG ratio of 0.46 and a beta of 1.68. The stock’s 50 day simple moving average is $25.84 and its two-hundred day simple moving average is $25.03. Invesco Ltd. has a fifty-two week low of $11.60 and a fifty-two week high of $29.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.38 and a current ratio of 1.38.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, January 27th. The asset manager reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. Invesco had a negative net margin of 6.92% and a positive return on equity of 10.26%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Friday, February 13th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.84 annualized dividend and a yield of 3.6%. Invesco’s dividend payout ratio is -52.50%.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.