Cornercap Investment Counsel Inc. Sells 20,699 Shares of Invesco Ltd. (NYSE:IVZ)

Cornercap Investment Counsel Inc. reduced its stake in shares of Invesco Ltd. (NYSE:IVZ) by 55.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,755 shares of the asset manager’s stock after selling 20,699 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Invesco were worth $294,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IVZ. Russell Investments Group Ltd. increased its stake in Invesco by 152.4% during the first quarter. Russell Investments Group Ltd. now owns 54,637 shares of the asset manager’s stock worth $906,000 after acquiring an additional 32,989 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Invesco by 22.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 13,429 shares of the asset manager’s stock worth $223,000 after acquiring an additional 2,493 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Invesco by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock worth $7,718,000 after acquiring an additional 44,417 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Invesco by 684.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 122,986 shares of the asset manager’s stock valued at $2,028,000 after buying an additional 107,302 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Invesco by 35.5% during the first quarter. Acadian Asset Management LLC now owns 37,173 shares of the asset manager’s stock valued at $615,000 after buying an additional 9,747 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

Invesco Stock Down 0.4 %

Invesco stock opened at $17.67 on Monday. Invesco Ltd. has a twelve month low of $13.53 and a twelve month high of $18.94. The business has a fifty day moving average of $17.48 and a two-hundred day moving average of $16.42. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $7.94 billion, a P/E ratio of -19.21, a P/E/G ratio of 1.02 and a beta of 1.44.

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

Invesco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.205 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.64%. Invesco’s dividend payout ratio is presently -89.13%.

Analysts Set New Price Targets

A number of research analysts have recently commented on IVZ shares. Barclays upped their target price on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped 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. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their target price on Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley increased their price objective on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.