Harmony Asset Management LLC Acquires 600 Shares of Invesco Ltd. (NYSE:IVZ)

Harmony Asset Management LLC raised its stake in Invesco Ltd. (NYSE:IVZ) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,400 shares of the asset manager’s stock after acquiring an additional 600 shares during the quarter. Harmony Asset Management LLC’s holdings in Invesco were worth $1,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Avior Wealth Management LLC increased its position in shares of Invesco by 484.9% during the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after buying an additional 1,285 shares during the period. Family Firm Inc. purchased a new position in Invesco in the 2nd quarter worth $28,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the second quarter worth $30,000. Allworth Financial LP grew its holdings in shares of Invesco by 304.0% during the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,806 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Invesco in the second quarter valued at $61,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Price Performance

IVZ opened at $18.09 on Tuesday. The stock’s 50 day simple moving average is $17.77 and its 200-day simple moving average is $16.59. Invesco Ltd. has a 1 year low of $14.16 and a 1 year high of $18.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The firm’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. On average, analysts expect that Invesco Ltd. will post 1.69 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be paid a $0.205 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.53%. Invesco’s payout ratio is presently -89.13%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IVZ. Royal Bank of Canada raised their price target on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Evercore ISI increased their price objective on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price objective on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Barclays boosted 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.63.

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.