Principal Financial Group Inc. lifted its holdings in shares of Invesco Ltd. (NYSE:IVZ - Free Report) by 177.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,398,364 shares of the asset manager's stock after buying an additional 894,105 shares during the period. Principal Financial Group Inc. owned about 0.31% of Invesco worth $21,213,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of IVZ. Colonial Trust Co SC acquired a new position in Invesco in the 4th quarter valued at about $38,000. Aster Capital Management DIFC Ltd increased its holdings in Invesco by 180.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock valued at $42,000 after buying an additional 1,531 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in Invesco during the fourth quarter valued at approximately $52,000. Versant Capital Management Inc raised its holdings in shares of Invesco by 264.1% during the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock worth $47,000 after buying an additional 2,234 shares in the last quarter. Finally, Curat Global LLC acquired a new position in Invesco during the first quarter worth about $49,000. 66.09% of the stock is currently owned by institutional investors.
Invesco Stock Performance
Invesco stock traded up $0.48 during trading on Thursday, reaching $17.43. The company had a trading volume of 5,242,522 shares, compared to its average volume of 4,466,804. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $19.55. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.48. The firm's 50-day simple moving average is $15.08 and its 200 day simple moving average is $15.81.
Invesco (NYSE:IVZ - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating 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 analysts' expectations of $1.11 billion. During the same period last year, the company posted $0.33 earnings per share. Sell-side analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.
Invesco Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were paid a dividend of $0.21 per share. This is a positive change from Invesco's previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Wednesday, May 14th. Invesco's dividend payout ratio (DPR) is currently 67.20%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on IVZ shares. TD Cowen downgraded shares of Invesco from a "buy" rating to a "hold" rating and dropped their price target for the company from $22.00 to $13.00 in a research note on Wednesday, April 9th. The Goldman Sachs Group upped their price target on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Bank of America dropped their price objective on shares of Invesco from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Citigroup decreased their price target on Invesco from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Finally, Evercore ISI increased their price objective on shares of Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Invesco currently has a consensus rating of "Hold" and an average target price of $17.28.
Check Out Our Latest Stock Report on Invesco
Invesco Company Profile
(
Free Report)
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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