PNC Financial Services Group Inc. Sells 39,919 Shares of Invesco Ltd. $IVZ

Key Points

• PNC Financial Services reduced its Invesco stake by 19.4%, selling 39,919 shares and retaining 165,696 shares valued at approximately $4.03 million. Institutional investors collectively own 66.09% of Invesco.
• Invesco shares opened at $30.09, near their 12-month high of $31.02. The company reported quarterly EPS of $0.57, slightly below estimates, while revenue increased 14% year over year to $1.26 billion.
• Analysts maintain a broadly neutral outlook, with four Buy ratings and eleven Holds. The average price target is $29.31, below the recent share price.

PNC Financial Services Group Inc. reduced its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,696 shares of the asset manager's stock after selling 39,919 shares during the period. PNC Financial Services Group Inc.'s holdings in Invesco were worth $4,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IVZ. Root Financial Partners LLC grew its holdings in shares of Invesco by 28.2% in the fourth quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager's stock worth $45,000 after purchasing an additional 374 shares during the last quarter. ANB Bank raised its holdings in Invesco by 3.1% during the 1st quarter. ANB Bank now owns 12,324 shares of the asset manager's stock valued at $299,000 after buying an additional 375 shares during the last quarter. Carrera Capital Advisors boosted its position in Invesco by 3.7% during the 4th quarter. Carrera Capital Advisors now owns 11,467 shares of the asset manager's stock valued at $301,000 after buying an additional 408 shares during the period. Vise Technologies Inc. boosted its position in Invesco by 3.3% during the 4th quarter. Vise Technologies Inc. now owns 13,182 shares of the asset manager's stock valued at $346,000 after buying an additional 425 shares during the period. Finally, EWA LLC grew its holdings in Invesco by 3.8% in the 1st quarter. EWA LLC now owns 12,490 shares of the asset manager's stock worth $303,000 after acquiring an additional 452 shares during the last quarter. Institutional investors own 66.09% of the company's stock.

Invesco Stock Up 0.5%

Shares of Invesco stock opened at $30.09 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01. Invesco Ltd. has a 12-month low of $20.08 and a 12-month high of $31.02. The company has a market cap of $13.34 billion, a P/E ratio of -20.47, a PEG ratio of 0.49 and a beta of 1.62. The company's fifty day simple moving average is $28.04 and its two-hundred day simple moving average is $26.67.

Invesco (NYSE:IVZ - Get Free Report) last posted its earnings results on Tuesday, April 28th. The asset manager reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company's revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts anticipate that Invesco Ltd. will post 2.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of Invesco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 29th. Barclays increased their target price on shares of Invesco from $26.00 to $31.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 14th. The Goldman Sachs Group raised their target price on Invesco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price target on Invesco from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 24th. Finally, Jefferies Financial Group raised Invesco to a "hold" rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $29.31.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange NYSE: IVZ. With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm's product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.

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