CIBC Private Wealth Group LLC Increases Stock Position in Invesco Ltd. (NYSE:IVZ)

CIBC Private Wealth Group LLC lifted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 2,385.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,711,519 shares of the asset manager’s stock after buying an additional 1,642,645 shares during the period. CIBC Private Wealth Group LLC’s holdings in Invesco were worth $29,301,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Massachusetts Mutual Life Insurance Co. purchased a new position in Invesco in the third quarter worth $1,428,196,000. Vanguard Group Inc. grew its stake in shares of Invesco by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager’s stock worth $900,127,000 after purchasing an additional 419,389 shares during the period. State Street Corp increased its holdings in shares of Invesco by 0.7% in the 3rd quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock valued at $369,823,000 after purchasing an additional 151,408 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Invesco by 0.9% in the third quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock valued at $179,666,000 after purchasing an additional 93,126 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Invesco by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,423,332 shares of the asset manager’s stock worth $77,320,000 after buying an additional 111,518 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Stock Performance

NYSE:IVZ opened at $15.18 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. The firm has a market cap of $6.80 billion, a PE ratio of 12.87, a P/E/G ratio of 0.98 and a beta of 1.43. The firm has a 50 day simple moving average of $17.10 and a 200-day simple moving average of $17.43. Invesco Ltd. has a 1-year low of $14.16 and a 1-year high of $19.55.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. On average, equities analysts expect that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date was Friday, February 14th. Invesco’s payout ratio is 69.49%.

Analyst Upgrades and Downgrades

IVZ has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada started coverage on Invesco in a report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price objective for the company. Argus raised their price target on Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. TD Cowen cut their price target on Invesco from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, BMO Capital Markets increased their price objective on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.66.

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.