Invesco Ltd. (NYSE:IVZ) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its position in Invesco Ltd. (NYSE:IVZ) by 55.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,755 shares of the asset manager’s stock after selling 20,699 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Invesco were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Invesco by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after acquiring an additional 3,349,069 shares during the period. Swedbank AB acquired a new stake in Invesco during the 1st quarter worth about $41,475,000. Bank of New York Mellon Corp grew its position in Invesco by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager’s stock worth $37,241,000 after purchasing an additional 30,016 shares during the period. AQR Capital Management LLC grew its position in Invesco by 19.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,364,232 shares of the asset manager’s stock worth $35,274,000 after purchasing an additional 377,786 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Invesco by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after purchasing an additional 58,332 shares during the period. 66.09% of the stock is owned by institutional investors and hedge funds.

Invesco Trading Down 0.4 %

IVZ stock opened at $17.67 on Monday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco Ltd. has a 12-month low of $13.53 and a 12-month high of $18.94. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of -19.21, a PEG ratio of 1.02 and a beta of 1.44. The business’s 50-day moving average is $17.48 and its 200 day moving average is $16.42.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.35 EPS. Invesco’s revenue was down 20.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.64%. The ex-dividend date is Thursday, November 14th. Invesco’s payout ratio is -89.13%.

Wall Street Analyst Weigh In

IVZ has been the topic of several analyst reports. Barclays increased their price target on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their price target on Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Evercore ISI increased 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. Finally, Royal Bank of Canada raised their target price on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.63.

Invesco Company 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.