Principal Financial Group Inc. Increases Stake in Invesco Ltd. (NYSE:IVZ)

Principal Financial Group Inc. lifted its stake in shares of Invesco Ltd. (NYSE:IVZ) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 511,850 shares of the asset manager’s stock after buying an additional 16,473 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Invesco worth $8,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of IVZ. Family Firm Inc. purchased a new stake in Invesco in the second quarter worth about $28,000. Sentry Investment Management LLC purchased a new stake in Invesco in the second quarter worth about $30,000. Allworth Financial LP grew its holdings in Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,806 shares during the period. Abich Financial Wealth Management LLC grew its holdings in Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after purchasing an additional 1,210 shares during the period. Finally, HHM Wealth Advisors LLC bought a new position in shares of Invesco in the second quarter worth approximately $61,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. UBS Group increased their price objective on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group increased their price objective on shares of Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.63.

Invesco Stock Performance

Shares of NYSE IVZ opened at $17.47 on Tuesday. The firm has a fifty day moving average price of $17.52 and a 200-day moving average price of $16.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market cap of $7.85 billion, a PE ratio of -18.99, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44. Invesco Ltd. has a 1 year low of $13.53 and a 1 year high of $18.94.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The company’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. Equities analysts anticipate that Invesco Ltd. will post 1.69 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be paid a $0.205 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.69%. Invesco’s dividend payout ratio (DPR) is presently -89.13%.

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.