Stock Yards Bank & Trust Co. Has $611,000 Stake in Invesco Ltd. (NYSE:IVZ)

Stock Yards Bank & Trust Co. lowered its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,252 shares of the asset manager’s stock after selling 2,740 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Invesco were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Verdence Capital Advisors LLC increased its holdings in Invesco by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager’s stock worth $292,000 after purchasing an additional 843 shares in the last quarter. MCF Advisors LLC grew its holdings in Invesco by 16.1% during the fourth quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock valued at $110,000 after purchasing an additional 855 shares during the period. Pinnacle Bancorp Inc. grew its holdings 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 period. Wright Investors Service Inc. lifted its position in shares of Invesco by 2.1% during the third quarter. Wright Investors Service Inc. now owns 54,275 shares of the asset manager’s stock worth $788,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Paralel Advisors LLC lifted its position in shares of Invesco by 1.3% during the third quarter. Paralel Advisors LLC now owns 116,749 shares of the asset manager’s stock worth $1,695,000 after acquiring an additional 1,458 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Stock Down 6.4 %

IVZ stock opened at $14.59 on Wednesday. Invesco Ltd. has a 52 week low of $12.48 and a 52 week high of $18.71. The stock has a market capitalization of $6.55 billion, a P/E ratio of -19.72, a P/E/G ratio of 1.03 and a beta of 1.44. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. The firm has a 50-day simple moving average of $15.75 and a 200-day simple moving average of $15.45.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share for the quarter, beating 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 $1.05 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $0.39 EPS. Invesco’s revenue was down 5.6% on a year-over-year basis. Equities analysts forecast that Invesco Ltd. will post 1.75 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business 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 $0.205 dividend. This is a positive change from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Monday, May 13th. Invesco’s dividend payout ratio is currently -108.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IVZ shares. UBS Group lowered their price target on Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. TD Cowen began coverage on shares of Invesco in a report on Thursday, January 4th. They set an “outperform” rating and a $21.00 target price for the company. TheStreet lowered shares of Invesco from a “b-” rating to a “c” rating in a report on Friday, February 23rd. Wells Fargo & Company cut their target price on shares of Invesco from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada boosted their price objective on shares of Invesco from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Thursday, January 18th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.46.

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.