Prudential Financial Inc. Sells 28,447 Shares of Invesco Ltd. (NYSE:IVZ)

Prudential Financial Inc. trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 22.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 96,788 shares of the asset manager’s stock after selling 28,447 shares during the period. Prudential Financial Inc.’s holdings in Invesco were worth $1,692,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board boosted its holdings in Invesco by 3.6% during the third quarter. Public Sector Pension Investment Board now owns 78,451 shares of the asset manager’s stock valued at $1,378,000 after purchasing an additional 2,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Invesco by 131.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager’s stock valued at $15,982,000 after buying an additional 516,622 shares in the last quarter. Captrust Financial Advisors grew its position in Invesco by 131.3% in the third quarter. Captrust Financial Advisors now owns 56,214 shares of the asset manager’s stock valued at $987,000 after acquiring an additional 31,908 shares during the period. Verition Fund Management LLC raised its stake in Invesco by 83.3% during the third quarter. Verition Fund Management LLC now owns 49,238 shares of the asset manager’s stock worth $865,000 after acquiring an additional 22,377 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Invesco in the 3rd quarter valued at $283,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of Invesco in a research report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Argus raised their price target on Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley boosted their price objective on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group raised their target price on Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.30.

Invesco Trading Down 7.6 %

IVZ opened at $12.78 on Friday. The firm has a 50 day simple moving average of $16.85 and a 200 day simple moving average of $17.37. Invesco Ltd. has a fifty-two week low of $12.35 and a fifty-two week high of $19.55. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. On average, sell-side analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 annualized dividend and a dividend yield of 6.41%. Invesco’s payout ratio is currently 69.49%.

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.