Principal Financial Group Inc. Buys 43,322 Shares of Invesco Ltd. $IVZ

Key Points

• Principal Financial Group Inc. increased its stake in Invesco by 5.5% in the first quarter, buying 43,322 additional shares and bringing its total holdings to 824,547 shares worth about $20 million.
• Institutional interest in Invesco remained strong, with several other funds also boosting positions; overall, 66.09% of the stock is owned by institutional investors.
• Analysts remain cautious on IVZ, with a consensus rating of “Hold” and an average price target of $29.15, while the stock recently traded at $30.05 after reporting slightly weaker-than-expected quarterly earnings.

Principal Financial Group Inc. raised its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 824,547 shares of the asset manager's stock after acquiring an additional 43,322 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of Invesco worth $20,028,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its position in shares of Invesco by 93.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 26,910 shares of the asset manager's stock worth $688,000 after purchasing an additional 12,986 shares during the last quarter. Del Sette Capital Management LLC grew its position in Invesco by 7.6% during the 1st quarter. Del Sette Capital Management LLC now owns 146,655 shares of the asset manager's stock valued at $3,562,000 after purchasing an additional 10,335 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Invesco by 2,633.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager's stock valued at $23,330,000 after purchasing an additional 925,300 shares during the last quarter. Fifth Third Bancorp increased its stake in Invesco by 15.5% during the 1st quarter. Fifth Third Bancorp now owns 25,406 shares of the asset manager's stock valued at $617,000 after purchasing an additional 3,402 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Invesco by 56.4% during the 1st quarter. Hsbc Holdings PLC now owns 674,037 shares of the asset manager's stock valued at $16,380,000 after purchasing an additional 242,949 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IVZ has been the topic of several analyst reports. Argus reiterated a "hold" rating on shares of Invesco in a research note on Wednesday, April 29th. BMO Capital Markets reduced their price target on shares of Invesco from $32.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of Invesco from $30.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 24th. Jefferies Financial Group upgraded shares of Invesco to a "hold" rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group upped their price objective on Invesco from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, Invesco currently has a consensus rating of "Hold" and an average price target of $29.15.

Invesco Price Performance

IVZ opened at $30.05 on Wednesday. The company's 50-day simple moving average is $27.84 and its two-hundred day simple moving average is $26.59. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $13.32 billion, a P/E ratio of -20.44, a P/E/G ratio of 0.48 and a beta of 1.62. Invesco Ltd. has a 52-week low of $20.00 and a 52-week high of $31.02.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.57 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business's revenue was up 14.0% compared to the same quarter last year. As a group, analysts predict that Invesco Ltd. will post 2.78 EPS for the current year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 15th were issued a $0.215 dividend. This is an increase from Invesco's previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, May 15th. Invesco's dividend payout ratio is -58.50%.

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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