Apollon Wealth Management LLC Acquires New Position in Invesco Ltd. (NYSE:IVZ)

Apollon Wealth Management LLC bought a new stake in Invesco Ltd. (NYSE:IVZ) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,458 shares of the asset manager’s stock, valued at approximately $271,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Versor Investments LP acquired a new position in shares of Invesco in the 3rd quarter valued at $882,000. Capital Performance Advisors LLP acquired a new position in Invesco in the third quarter valued at about $131,000. Gold Investment Management Ltd. boosted its stake in Invesco by 3.2% during the third quarter. Gold Investment Management Ltd. now owns 53,581 shares of the asset manager’s stock worth $941,000 after buying an additional 1,644 shares during the period. Principal Financial Group Inc. increased its position in shares of Invesco by 3.3% during the third quarter. Principal Financial Group Inc. now owns 511,850 shares of the asset manager’s stock valued at $8,988,000 after acquiring an additional 16,473 shares during the last quarter. Finally, Centennial Wealth Advisory LLC raised its stake in shares of Invesco by 4.5% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 19,095 shares of the asset manager’s stock valued at $335,000 after acquiring an additional 816 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Price Performance

Invesco stock opened at $17.47 on Tuesday. The stock has a market cap of $7.85 billion, a P/E ratio of -18.99, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44. The company has a fifty day simple moving average of $17.52 and a 200-day simple moving average of $16.44. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco Ltd. has a 12-month low of $13.53 and a 12-month high of $18.94.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm posted $0.35 EPS. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. Equities analysts expect that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be given a dividend of $0.205 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.69%. Invesco’s dividend payout ratio is presently -89.13%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IVZ. JPMorgan Chase & Co. increased their price objective on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Royal Bank of Canada lifted their price objective on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Evercore ISI increased their target price on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Barclays lifted their target price on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.63.

Invesco Company 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.