South Dakota Investment Council Cuts Stock Holdings in Invesco Ltd. (NYSE:IVZ)

South Dakota Investment Council trimmed its position in shares of Invesco Ltd. (NYSE:IVZ) by 3.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 295,448 shares of the asset manager’s stock after selling 10,000 shares during the quarter. South Dakota Investment Council’s holdings in Invesco were worth $5,271,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in shares of Invesco during the 3rd quarter worth $25,000. Pinnacle Bancorp Inc. raised its stake in shares of Invesco by 100.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after purchasing an additional 1,000 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Invesco during the 3rd quarter worth $32,000. Sentry Investment Management LLC bought a new stake in shares of Invesco during the 3rd quarter worth $36,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in shares of Invesco during the 3rd quarter worth $41,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Price Performance

Shares of IVZ traded down $0.08 during midday trading on Wednesday, hitting $14.50. 5,571,825 shares of the company traded hands, compared to its average volume of 4,704,543. The stock has a 50-day moving average of $15.75 and a 200-day moving average of $15.45. Invesco Ltd. has a one year low of $12.48 and a one year high of $18.71. The firm has a market cap of $6.51 billion, a P/E ratio of -19.43, a PEG ratio of 1.03 and a beta of 1.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.01 and a quick ratio of 5.01.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Invesco Ltd. will post 1.75 EPS for the current fiscal year.

Invesco Increases Dividend

The firm 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 dividend of $0.205 per share. This is a positive change from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.82 annualized dividend and a dividend yield of 5.66%. Invesco’s payout ratio is presently -108.11%.

Analyst Upgrades and Downgrades

IVZ has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on Invesco from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. TheStreet cut Invesco from a “b-” rating to a “c” rating in a research note on Friday, February 23rd. TD Cowen lowered their price objective on Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada boosted their price objective on Invesco from $14.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, January 18th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $17.00 price objective (down from $19.00) on shares of Invesco in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.79.

Invesco 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.