Invesco Ltd. (NYSE:IVZ) Shares Sold by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners reduced its holdings in Invesco Ltd. (NYSE:IVZ) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,082 shares of the asset manager’s stock after selling 1,992 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in Invesco were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IVZ. Family Firm Inc. purchased a new stake in Invesco during the second quarter worth about $28,000. Sentry Investment Management LLC acquired a new stake in shares of Invesco during the 2nd quarter valued at approximately $30,000. Quarry LP acquired a new stake in shares of Invesco in the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC increased its stake in Invesco by 182.0% in the 4th 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 in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Invesco by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock worth $53,000 after purchasing an additional 766 shares during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Trading Up 0.9 %

Shares of Invesco stock opened at $16.01 on Friday. The firm has a market cap of $7.20 billion, a PE ratio of -21.35, a P/E/G ratio of 1.09 and a beta of 1.44. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. Invesco Ltd. has a fifty-two week low of $12.48 and a fifty-two week high of $18.28. The business’s fifty day moving average is $16.38 and its two-hundred day moving average is $15.78.

Invesco (NYSE:IVZ) last released 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 firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. Analysts anticipate that Invesco Ltd. will post 1.65 earnings per share for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were issued a $0.205 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.82 dividend on an annualized basis and a yield of 5.12%. Invesco’s payout ratio is -109.33%.

Wall Street Analyst Weigh In

Several research firms have weighed in on IVZ. Royal Bank of Canada upped their target price on Invesco from $16.00 to $17.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group lowered their price objective on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Wells Fargo & Company assumed coverage on shares of Invesco in a research report on Thursday. They set an “underweight” rating and a $16.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Barclays started coverage on shares of Invesco in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.98.

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.