Principal Financial Group Inc. Trims Stock Position in Invesco Ltd. (NYSE:IVZ)

Principal Financial Group Inc. decreased its stake in Invesco Ltd. (NYSE:IVZ) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 504,259 shares of the asset manager’s stock after selling 7,591 shares during the period. Principal Financial Group Inc. owned 0.11% of Invesco worth $8,814,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in Invesco by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after acquiring an additional 87,405 shares in the last quarter. Massachusetts Mutual Life Insurance Co. purchased a new stake in shares of Invesco in the 3rd quarter valued at about $1,428,196,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Invesco by 41.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock valued at $867,000 after purchasing an additional 14,489 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Invesco by 867.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 83,108 shares of the asset manager’s stock valued at $1,469,000 after purchasing an additional 74,518 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Invesco during the 3rd quarter worth approximately $853,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Stock Performance

Shares of IVZ stock opened at $17.40 on Friday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $17.82 and a 200-day simple moving average of $17.58. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. Invesco Ltd. has a 12-month low of $14.16 and a 12-month high of $19.55.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. On average, equities analysts forecast that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Friday, February 14th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Friday, February 14th. Invesco’s dividend payout ratio is currently 69.49%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IVZ. Argus boosted their price objective on Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Royal Bank of Canada assumed coverage on shares of Invesco in a research report on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price target for the company. Barclays raised their price objective on shares of Invesco from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Evercore ISI lifted their price objective on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets increased their target price on shares of Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.94.

Invesco Company Profile

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.