Reinhart Partners Inc. Has $20.67 Million Stock Position in Invesco Ltd. (NYSE:IVZ)

Reinhart Partners Inc. lowered its stake in Invesco Ltd. (NYSE:IVZ) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 1,220,363 shares of the asset manager’s stock after selling 17,378 shares during the period. Invesco makes up approximately 1.9% of Reinhart Partners Inc.’s investment portfolio, making the stock its 25th biggest position. Reinhart Partners Inc.’s holdings in Invesco were worth $20,673,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. IHT Wealth Management LLC bought a new stake in shares of Invesco in the second quarter worth $362,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Invesco by 26.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,070 shares of the asset manager’s stock worth $2,518,000 after buying an additional 25,633 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Invesco by 27.1% in the second quarter. CIBC Asset Management Inc now owns 168,172 shares of the asset manager’s stock worth $3,441,000 after buying an additional 35,871 shares in the last quarter. AGF Investments America Inc. lifted its position in shares of Invesco by 1.9% in the second quarter. AGF Investments America Inc. now owns 68,673 shares of the asset manager’s stock worth $1,405,000 after buying an additional 1,250 shares in the last quarter. Finally, Aviance Capital Partners LLC lifted its position in shares of Invesco by 82.0% in the second quarter. Aviance Capital Partners LLC now owns 80,435 shares of the asset manager’s stock worth $1,646,000 after buying an additional 36,229 shares in the last quarter. Institutional investors own 67.25% of the company’s stock.

NYSE IVZ traded down $0.05 during trading hours on Friday, hitting $17.82. 3,852,593 shares of the company were exchanged, compared to its average volume of 4,864,206. The stock has a 50-day moving average price of $16.58 and a 200 day moving average price of $18.52. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. Invesco Ltd. has a 52 week low of $15.15 and a 52 week high of $22.18. The stock has a market cap of $8.22 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.90 and a beta of 1.54.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.13. Invesco had a return on equity of 10.60% and a net margin of 8.86%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Invesco Ltd. will post 2.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 6.96%. Invesco’s payout ratio is currently 51.03%.

A number of equities research analysts recently commented on the company. ValuEngine downgraded Invesco from a “sell” rating to a “strong sell” rating in a research report on Friday. JPMorgan Chase & Co. downgraded Invesco from an “overweight” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Thursday, September 12th. Citigroup set a $16.50 target price on Invesco and gave the stock a “hold” rating in a research report on Friday, October 25th. Barclays boosted their target price on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank upgraded Invesco from a “hold” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $21.00 in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.14.

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.

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Institutional Ownership by Quarter for Invesco (NYSE:IVZ)

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