Retirement Systems of Alabama Purchases 7,973 Shares of Invesco Ltd. (NYSE:IVZ)

Retirement Systems of Alabama increased its position in shares of Invesco Ltd. (NYSE:IVZGet Rating) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 474,670 shares of the asset manager’s stock after acquiring an additional 7,973 shares during the period. Retirement Systems of Alabama’s holdings in Invesco were worth $10,927,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Keybank National Association OH raised its position in shares of Invesco by 4.3% during the 3rd quarter. Keybank National Association OH now owns 10,655 shares of the asset manager’s stock valued at $257,000 after purchasing an additional 441 shares during the period. Estate Counselors LLC boosted its holdings in shares of Invesco by 1.2% during the 3rd quarter. Estate Counselors LLC now owns 43,645 shares of the asset manager’s stock valued at $1,052,000 after purchasing an additional 520 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Invesco by 4.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 12,912 shares of the asset manager’s stock valued at $311,000 after purchasing an additional 539 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in shares of Invesco by 6.1% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,607 shares of the asset manager’s stock worth $256,000 after purchasing an additional 607 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Invesco by 83.3% in the third quarter. AdvisorNet Financial Inc now owns 1,613 shares of the asset manager’s stock worth $39,000 after buying an additional 733 shares in the last quarter. Hedge funds and other institutional investors own 63.62% of the company’s stock.

A number of equities analysts recently commented on IVZ shares. The Goldman Sachs Group dropped their price target on Invesco from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, January 4th. BMO Capital Markets dropped their price target on Invesco from $33.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, January 26th. Citigroup dropped their price target on Invesco from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, January 26th. Bank of America dropped their price target on Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, January 26th. Finally, Morgan Stanley dropped their price target on Invesco from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Invesco presently has a consensus rating of “Hold” and a consensus target price of $28.82.

In other news, Director Gregory Mcgreevey sold 200,000 shares of the stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $19.60, for a total value of $3,920,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Martin L. Flanagan sold 189,708 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $19.51, for a total value of $3,701,203.08. The disclosure for this sale can be found here. Corporate insiders own 1.87% of the company’s stock.

NYSE:IVZ opened at $21.63 on Wednesday. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.51 and a beta of 1.18. Invesco Ltd. has a 1 year low of $18.42 and a 1 year high of $29.71. The business has a 50 day simple moving average of $21.85 and a 200-day simple moving average of $23.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.79 and a quick ratio of 3.79.

Invesco (NYSE:IVZGet Rating) last issued its quarterly earnings results on Tuesday, January 25th. The asset manager reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Invesco had a return on equity of 14.48% and a net margin of 23.64%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts expect that Invesco Ltd. will post 2.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 2nd. Stockholders of record on Wednesday, February 16th were issued a $0.17 dividend. The ex-dividend date was Tuesday, February 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.14%. Invesco’s payout ratio is 22.67%.

About Invesco (Get Rating)

Invesco Ltd. engages in the investment management business. Its product includes mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. The company was founded in December 1935 and is headquartered in Atlanta, GA.

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