Interval Partners LP Decreases Stock Holdings in Invesco Ltd. (NYSE:IVZ)

Interval Partners LP lowered its position in shares of Invesco Ltd. (NYSE:IVZ) by 40.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,420 shares of the asset manager’s stock after selling 183,095 shares during the period. Interval Partners LP’s holdings in Invesco were worth $4,486,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IVZ. State Board of Administration of Florida Retirement System boosted its stake in Invesco by 10.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock valued at $7,718,000 after acquiring an additional 44,417 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Invesco during the first quarter worth about $2,066,000. Norges Bank purchased a new position in Invesco during the fourth quarter worth about $59,713,000. PNC Financial Services Group Inc. raised its holdings in Invesco by 10.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock worth $1,353,000 after purchasing an additional 6,994 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Invesco by 5,321.9% during the first quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock worth $1,416,000 after purchasing an additional 83,767 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

IVZ has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $17.00 target price (down from $18.00) on shares of Invesco in a report on Wednesday, April 24th. The Goldman Sachs Group lowered their price target on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.90.

Invesco Stock Performance

Shares of IVZ stock traded up $0.12 during mid-day trading on Wednesday, reaching $17.34. The company’s stock had a trading volume of 785,891 shares, compared to its average volume of 4,420,123. The company’s 50 day simple moving average is $15.57 and its 200-day simple moving average is $15.68. Invesco Ltd. has a 12-month low of $12.48 and a 12-month high of $18.28. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.89 and a current ratio of 6.89.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 7.64%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.31 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts predict that Invesco Ltd. will post 1.65 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.73%. The ex-dividend date is Friday, August 16th. Invesco’s dividend payout ratio is currently -109.33%.

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.