Principal Financial Group Inc. Has $21.21 Million Stock Position in Invesco Ltd. (NYSE:IVZ)

Principal Financial Group Inc. boosted its position in Invesco Ltd. (NYSE:IVZ - Free Report) by 177.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,398,364 shares of the asset manager's stock after purchasing an additional 894,105 shares during the period. Principal Financial Group Inc. owned 0.31% of Invesco worth $21,213,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IVZ. Vanguard Group Inc. boosted its position in shares of Invesco by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager's stock valued at $900,127,000 after acquiring an additional 419,389 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Invesco by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,104,545 shares of the asset manager's stock valued at $351,430,000 after purchasing an additional 274,134 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Invesco by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 10,383,206 shares of the asset manager's stock worth $181,281,000 after purchasing an additional 134,726 shares during the period. AQR Capital Management LLC boosted its holdings in Invesco by 38.5% during the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager's stock valued at $142,385,000 after acquiring an additional 2,264,551 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Invesco by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 6,380,191 shares of the asset manager's stock worth $111,526,000 after buying an additional 31,854 shares during the period. Institutional investors and hedge funds own 66.09% of the company's stock.

Invesco Price Performance

Shares of NYSE:IVZ opened at $16.96 on Thursday. The company has a market cap of $7.59 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.94 and a beta of 1.48. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $19.55. The company's fifty day moving average is $15.08 and its two-hundred day moving average is $15.81. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.81.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. Invesco had a net margin of 13.14% and a return on equity of 8.94%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.33 earnings per share. Equities analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were given a $0.21 dividend. This is a boost from Invesco's previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Wednesday, May 14th. Invesco's payout ratio is currently 67.20%.

Analyst Upgrades and Downgrades

Several brokerages have commented on IVZ. Bank of America dropped their price objective on Invesco from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Citigroup reduced their target price on Invesco from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Evercore ISI upped their price target on Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on Invesco from $19.50 to $14.50 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group increased their target price on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $17.48.

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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