Commerce Bank Sells 4,601 Shares of Invesco Ltd. (NYSE:IVZ)

Commerce Bank trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,174 shares of the asset manager’s stock after selling 4,601 shares during the period. Commerce Bank’s holdings in Invesco were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IVZ. Bank of New York Mellon Corp increased its stake in Invesco by 34.8% in the first quarter. Bank of New York Mellon Corp now owns 11,814,228 shares of the asset manager’s stock valued at $107,274,000 after purchasing an additional 3,047,716 shares in the last quarter. Geode Capital Management LLC increased its stake in Invesco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 7,638,739 shares of the asset manager’s stock valued at $137,547,000 after purchasing an additional 78,364 shares in the last quarter. FMR LLC increased its stake in Invesco by 67.4% in the fourth quarter. FMR LLC now owns 6,976,802 shares of the asset manager’s stock valued at $125,444,000 after purchasing an additional 2,808,522 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Invesco by 38.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,351,909 shares of the asset manager’s stock valued at $96,227,000 after purchasing an additional 1,483,346 shares in the last quarter. Finally, Prudential PLC bought a new stake in Invesco in the first quarter valued at approximately $43,899,000. 65.33% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on IVZ shares. Citigroup upped their target price on shares of Invesco from $4.50 to $5.50 and gave the company a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Invesco from a “hold” rating to a “sell” rating and set a $8.00 target price for the company. in a research note on Monday, April 6th. William Blair reiterated a “market perform” rating on shares of Invesco in a report on Monday, April 27th. Deutsche Bank reduced their price target on shares of Invesco from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Credit Suisse Group upped their price target on shares of Invesco from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.13.

Shares of IVZ opened at $8.13 on Friday. Invesco Ltd. has a 12 month low of $6.38 and a 12 month high of $21.09. The firm has a fifty day simple moving average of $8.18 and a 200 day simple moving average of $13.95. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 0.96 and a beta of 1.48. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.88.

Invesco (NYSE:IVZ) last announced its earnings results on Thursday, April 23rd. The asset manager reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.18). Invesco had a return on equity of 11.04% and a net margin of 8.12%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, research analysts predict that Invesco Ltd. will post 1.46 earnings per share for the current fiscal year.

In other Invesco news, Director C Robert Henrikson bought 12,660 shares of Invesco stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $7.93 per share, for a total transaction of $100,393.80. Following the completion of the acquisition, the director now owns 55,334 shares of the company’s stock, valued at approximately $438,798.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.89% of the company’s stock.

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.

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