Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Holdings in Invesco Ltd. (NYSE:IVZ)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,834 shares of the asset manager’s stock after selling 1,182 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Invesco were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Gables Capital Management Inc. lifted its position in Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 700 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in Invesco by 100.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 1,000 shares during the last quarter. Quarry LP bought a new position in Invesco during the fourth quarter valued at $37,000. EverSource Wealth Advisors LLC lifted its position in Invesco by 182.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Invesco by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 766 shares during the last quarter. Institutional investors own 66.09% of the company’s stock.

Invesco Trading Down 2.3 %

IVZ stock traded down $0.40 during mid-day trading on Monday, hitting $17.02. 1,493,005 shares of the company were exchanged, compared to its average volume of 4,438,189. The company has a quick ratio of 6.89, a current ratio of 6.89 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $7.66 billion, a P/E ratio of -22.73, a PEG ratio of 1.20 and a beta of 1.47. The business has a fifty day simple moving average of $15.52 and a 200-day simple moving average of $15.69. Invesco Ltd. has a 12-month low of $12.48 and a 12-month high of $18.28.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 7.64%. Invesco’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. On average, equities research analysts predict that Invesco Ltd. will post 1.65 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Friday, August 16th. Invesco’s payout ratio is -109.33%.

Analysts Set New Price Targets

Several research firms have commented on IVZ. JPMorgan Chase & Co. lowered their price objective on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $17.00 target price (down previously from $19.00) on shares of Invesco in a report on Wednesday, April 24th. Royal Bank of Canada raised their target price on shares of Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday. The Goldman Sachs Group lowered their target price on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Finally, Morgan Stanley raised their target price on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $16.90.

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.