Channing Capital Management LLC Takes Position in Invesco Ltd. (NYSE:IVZ)

Channing Capital Management LLC purchased a new position in shares of Invesco Ltd. (NYSE:IVZ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 475,275 shares of the asset manager’s stock, valued at approximately $8,479,000. Channing Capital Management LLC owned about 0.11% of Invesco as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new position in shares of Invesco in the 3rd quarter valued at approximately $25,000. Jones Financial Companies Lllp purchased a new position in Invesco during the 3rd quarter worth $32,000. Sentry Investment Management LLC acquired a new stake in shares of Invesco in the 3rd quarter worth $36,000. Pinnacle Bancorp Inc. increased its stake in shares of Invesco by 100.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after acquiring an additional 1,000 shares during the period. Finally, Authentikos Wealth Advisory LLC purchased a new position in Invesco during the third quarter worth about $41,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IVZ. TD Cowen cut their target price on Invesco from $21.00 to $19.50 and set a “buy” rating for the company in a research note on Wednesday, April 24th. The Goldman Sachs Group decreased their target price on shares of Invesco from $17.75 to $16.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $17.00 price objective (down previously from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. Morgan Stanley upped their target price on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Finally, UBS Group reduced their price target on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.79.

Invesco Trading Up 2.1 %

IVZ traded up $0.31 during midday trading on Friday, hitting $14.84. The company’s stock had a trading volume of 5,526,778 shares, compared to its average volume of 4,819,637. The firm has a market cap of $6.67 billion, a P/E ratio of -19.79, a PEG ratio of 1.12 and a beta of 1.45. Invesco Ltd. has a 52-week low of $12.48 and a 52-week high of $18.71. The company has a current ratio of 6.89, a quick ratio of 5.01 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $15.58 and a two-hundred day moving average price of $15.49.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, research analysts anticipate that Invesco Ltd. will post 1.65 earnings per share for the current year.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.53%. This is an increase from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, May 13th. Invesco’s dividend payout ratio (DPR) is -106.67%.

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.