Mutual of America Capital Management LLC Trims Stock Position in Invesco Ltd. (NYSE:IVZ)

Mutual of America Capital Management LLC reduced its stake in Invesco Ltd. (NYSE:IVZ) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,415 shares of the asset manager’s stock after selling 1,311 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Invesco were worth $973,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Family Firm Inc. purchased a new position in Invesco in the 2nd quarter valued at $28,000. Sentry Investment Management LLC acquired a new stake in shares of Invesco in the 2nd quarter worth $30,000. Allworth Financial LP boosted its holdings in shares of Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 1,806 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of 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 acquiring an additional 1,210 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Invesco during the second quarter worth about $61,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Royal Bank of Canada lifted their price target on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Evercore ISI raised their target price on Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.63.

Invesco Stock Up 2.3 %

IVZ stock opened at $18.15 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The company’s 50 day simple moving average is $17.68 and its 200-day simple moving average is $16.53. Invesco Ltd. has a 12 month low of $13.53 and a 12 month high of $18.94. The firm has a market capitalization of $8.16 billion, a PE ratio of -19.72, a P/E/G ratio of 1.02 and a beta of 1.44.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was down 20.8% compared to the same quarter last year. Equities analysts expect that Invesco Ltd. will post 1.69 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, November 14th. Invesco’s payout ratio is -89.13%.

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.