Stonebridge Capital Advisors LLC Lowers Stake in Invesco Ltd. (NYSE:IVZ)
Stonebridge Capital Advisors LLC cut its position in Invesco Ltd. (NYSE:IVZ) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 453,283 shares of the asset manager’s stock after selling 9,494 shares during the period. Invesco makes up about 1.6% of Stonebridge Capital Advisors LLC’s holdings, making the stock its 10th largest holding. Stonebridge Capital Advisors LLC’s holdings in Invesco were worth $9,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Rehmann Capital Advisory Group grew its position in shares of Invesco by 100.0% in the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 669 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of Invesco in the second quarter valued at $29,000. Asset Dedication LLC grew its position in shares of Invesco by 142.9% in the second quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Invesco by 333.3% in the second quarter. Captrust Financial Advisors now owns 1,837 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 1,413 shares in the last quarter. Finally, Ossiam purchased a new position in shares of Invesco in the second quarter valued at $47,000. Hedge funds and other institutional investors own 67.82% of the company’s stock.
Invesco stock traded up $0.16 during midday trading on Monday, hitting $17.03. 2,581,311 shares of the company’s stock were exchanged, compared to its average volume of 5,140,527. Invesco Ltd. has a 52-week low of $15.15 and a 52-week high of $24.59. The stock has a 50-day moving average price of $16.34 and a two-hundred day moving average price of $19.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $8.01 billion, a P/E ratio of 7.01, a PEG ratio of 0.83 and a beta of 1.53.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date was Wednesday, August 14th. Invesco’s dividend payout ratio (DPR) is presently 51.03%.
IVZ has been the subject of several recent research reports. Barclays set a $21.00 price target on Invesco and gave the company a “hold” rating in a research report on Friday, July 26th. Citigroup set a $20.00 price target on Invesco and gave the company a “hold” rating in a research report on Wednesday, July 31st. Jefferies Financial Group cut Invesco from a “buy” rating to a “hold” rating and reduced their price target for the company from $24.00 to $23.00 in a research report on Friday, June 7th. JPMorgan Chase & Co. cut Invesco from an “overweight” rating to a “neutral” rating and set a $22.00 price target for the company. in a research report on Thursday, September 12th. Finally, Zacks Investment Research cut Invesco from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.36.
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.
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