Channing Capital Management LLC Acquires Shares of 475,275 Invesco Ltd. (NYSE:IVZ)

Channing Capital Management LLC acquired a new stake in Invesco Ltd. (NYSE:IVZ) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 475,275 shares of the asset manager’s stock, valued at approximately $8,479,000.

A number of other hedge funds have also modified their holdings of IVZ. Orion Capital Management LLC bought a new position in Invesco in the 3rd quarter valued at $25,000. Pinnacle Bancorp Inc. increased its stake in shares of Invesco by 100.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after buying an additional 1,000 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Invesco in the third quarter valued at $32,000. Sentry Investment Management LLC bought a new position in shares of Invesco in the third quarter valued at about $36,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in Invesco during the 3rd quarter worth about $41,000. 66.09% of the stock is owned by institutional investors and hedge funds.

Invesco Stock Up 2.1 %

Shares of Invesco stock traded up $0.31 on Friday, hitting $14.84. The company had a trading volume of 5,526,778 shares, compared to its average volume of 4,819,637. Invesco Ltd. has a twelve month low of $12.48 and a twelve month high of $18.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 6.89 and a quick ratio of 5.01. The stock has a 50-day moving average of $15.58 and a 200-day moving average of $15.49. The firm has a market capitalization of $6.67 billion, a P/E ratio of -19.79, a P/E/G ratio of 1.12 and a beta of 1.45.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a positive return on equity of 7.84% and a negative net margin of 1.74%. Invesco’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. Research analysts predict that Invesco Ltd. will post 1.65 earnings per share for the current 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 $0.205 dividend. The ex-dividend date is Monday, May 13th. This is an increase from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.53%. Invesco’s dividend payout ratio (DPR) is -106.67%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IVZ shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $17.00 target price (down from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price objective on Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. StockNews.com cut Invesco from a “hold” rating to a “sell” rating in a research note on Friday. The Goldman Sachs Group dropped their target price on Invesco from $17.75 to $16.75 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, UBS Group decreased their price target on Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.79.

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.