Econ Financial Services Corp Acquires 69,217 Shares of Invesco Ltd. (NYSE:IVZ)

Econ Financial Services Corp lifted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 132.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,534 shares of the asset manager’s stock after buying an additional 69,217 shares during the period. Invesco makes up 1.2% of Econ Financial Services Corp’s portfolio, making the stock its 26th biggest position. Econ Financial Services Corp’s holdings in Invesco were worth $2,124,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of IVZ. Avior Wealth Management LLC grew its holdings in shares of Invesco by 484.9% in the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after acquiring an additional 1,285 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Invesco in the third quarter worth about $35,000. Allworth Financial LP grew its stake 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 valued at $42,000 after purchasing an additional 1,806 shares during the period. Crews Bank & Trust bought a new stake in shares of Invesco during the 4th quarter valued at about $44,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Invesco during the 3rd quarter valued at about $76,000. 66.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IVZ has been the subject of several recent research reports. Morgan Stanley cut their target price on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their price objective on shares of Invesco from $19.00 to $20.75 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Argus raised their target price on Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Evercore ISI upped their price target on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.87.

Invesco Trading Up 0.5 %

IVZ stock opened at $18.43 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. Invesco Ltd. has a 1-year low of $14.16 and a 1-year high of $19.55. The business has a 50 day simple moving average of $17.74 and a two-hundred day simple moving average of $17.36. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.06 and a beta of 1.43.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. Research analysts anticipate that Invesco Ltd. will post 1.85 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th will be issued a $0.205 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.45%. Invesco’s dividend payout ratio (DPR) is 69.49%.

Invesco 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.