Brandywine Global Investment Management LLC Sells 206,023 Shares of Invesco Ltd. (NYSE:IVZ)

Brandywine Global Investment Management LLC lowered its stake in shares of Invesco Ltd. (NYSE:IVZ) by 68.8% in the fourth quarter, Holdings Channel reports. The firm owned 93,556 shares of the asset manager’s stock after selling 206,023 shares during the period. Brandywine Global Investment Management LLC’s holdings in Invesco were worth $1,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Invesco by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager’s stock worth $45,684,000 after buying an additional 113,451 shares during the period. Proficio Capital Partners LLC bought a new stake in Invesco during the fourth quarter valued at about $735,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Invesco in the fourth quarter valued at about $424,000. Massachusetts Mutual Life Insurance Co. bought a new position in shares of Invesco in the third quarter worth about $1,428,196,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Invesco by 41.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock worth $867,000 after purchasing an additional 14,489 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IVZ. UBS Group raised their target price on Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Citigroup dropped their target price on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday. Wells Fargo & Company increased their price target on shares of Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Barclays upped their price objective on shares of Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of Invesco in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.66.

Invesco Price Performance

Shares of IVZ stock opened at $15.73 on Thursday. The stock’s fifty day simple moving average is $17.02 and its 200 day simple moving average is $17.41. Invesco Ltd. has a one year low of $14.16 and a one year high of $19.55. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.98 and a beta of 1.43. 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 (NYSE:IVZ) last issued its earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. On average, analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend was Friday, February 14th. Invesco’s payout ratio 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.