Thrivent Financial for Lutherans Cuts Stock Position in Invesco Ltd. (NYSE:IVZ)

Thrivent Financial for Lutherans cut its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 52.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 268,089 shares of the asset manager’s stock after selling 295,212 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.06% of Invesco worth $4,707,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IVZ. Family Firm Inc. purchased a new stake in Invesco during the second quarter worth about $28,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the 2nd quarter worth approximately $30,000. Allworth Financial LP raised its holdings in shares of Invesco by 304.0% in the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,806 shares during the period. Abich Financial Wealth Management LLC lifted its stake in Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 1,210 shares during the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in Invesco during the second quarter valued at $61,000. 66.09% of the stock is currently owned by institutional investors.

Invesco Price Performance

Invesco stock opened at $17.74 on Monday. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of -19.28, a PEG ratio of 1.02 and a beta of 1.44. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $17.65 and a 200 day simple moving average of $16.51. Invesco Ltd. has a 52 week low of $13.53 and a 52 week high of $18.94.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. Invesco’s revenue was down 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, research analysts forecast that Invesco Ltd. will post 1.69 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Thursday, November 14th. Invesco’s payout ratio is -89.13%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada upped their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company raised their price objective on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. One 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.