M&T Bank Corp Sells 674 Shares of Invesco Ltd. (NYSE:IVZ)

M&T Bank Corp reduced its stake in shares of Invesco Ltd. (NYSE:IVZ) by 4.5% in the third quarter, HoldingsChannel reports. The firm owned 14,208 shares of the asset manager’s stock after selling 674 shares during the period. M&T Bank Corp’s holdings in Invesco were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Avior Wealth Management LLC boosted its position in shares of Invesco by 484.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after purchasing an additional 1,285 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Invesco during the second quarter worth about $28,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the second quarter worth about $30,000. Allworth Financial LP increased its holdings in shares of Invesco by 304.0% during 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. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Invesco in the 2nd quarter valued at approximately $61,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Stock Performance

IVZ opened at $16.78 on Friday. The firm has a fifty day moving average price of $17.88 and a 200 day moving average price of $16.80. Invesco Ltd. has a 1 year low of $14.16 and a 1 year high of $18.94. The stock has a market cap of $7.54 billion, a P/E ratio of -18.24, a P/E/G ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91.

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

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th were given a dividend of $0.205 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.89%. Invesco’s dividend payout ratio (DPR) is -89.13%.

Analyst Ratings Changes

Several research firms have weighed in on IVZ. Deutsche Bank Aktiengesellschaft boosted 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. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Evercore ISI lifted their price target on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays lifted their target price on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. One 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 company. According to MarketBeat.com, Invesco presently has an average rating of “Hold” and an average price target of $18.63.

Invesco 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.