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

Principal Financial Group Inc. decreased its holdings in Invesco Ltd. (NYSE:IVZ) by 4.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 540,980 shares of the asset manager’s stock after selling 27,503 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Invesco worth $9,094,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IVZ. State Street Corp raised its stake in shares of Invesco by 58.2% during the third quarter. State Street Corp now owns 25,414,143 shares of the asset manager’s stock valued at $348,174,000 after purchasing an additional 9,345,810 shares during the period. Trian Fund Management L.P. raised its stake in shares of Invesco by 18.8% during the first quarter. Trian Fund Management L.P. now owns 54,034,034 shares of the asset manager’s stock valued at $1,404,885,000 after purchasing an additional 8,560,175 shares during the period. Vanguard Group Inc. raised its stake in shares of Invesco by 14.0% during the first quarter. Vanguard Group Inc. now owns 52,105,335 shares of the asset manager’s stock valued at $1,201,550,000 after purchasing an additional 6,384,917 shares during the period. Norges Bank purchased a new stake in shares of Invesco during the fourth quarter valued at approximately $58,133,000. Finally, BlackRock Inc. raised its stake in shares of Invesco by 5.6% during the first quarter. BlackRock Inc. now owns 47,752,801 shares of the asset manager’s stock valued at $783,146,000 after purchasing an additional 2,528,731 shares during the period. Hedge funds and other institutional investors own 66.27% of the company’s stock.

Invesco Stock Performance

Shares of IVZ opened at $13.96 on Tuesday. Invesco Ltd. has a 1 year low of $12.48 and a 1 year high of $20.56. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.90 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.10 and a current ratio of 5.10. The firm has a fifty day moving average of $13.76 and a 200-day moving average of $15.31.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 24th. The asset manager reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Invesco had a net margin of 14.50% and a return on equity of 7.52%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Invesco Ltd. will post 1.42 earnings per share for the current year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Friday, November 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date is Thursday, November 9th. Invesco’s dividend payout ratio is currently 61.07%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 25th. Citigroup decreased their price target on shares of Invesco from $19.00 to $15.75 and set a “neutral” rating for the company in a research report on Monday, September 25th. StockNews.com assumed coverage on shares of Invesco in a research report on Thursday, October 5th. They set a “sell” rating for the company. Jefferies Financial Group decreased their price target on shares of Invesco from $17.00 to $15.00 in a research report on Tuesday, October 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Invesco from $15.00 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Invesco currently has an average rating of “Hold” and a consensus target price of $16.48.

Insider Activity at Invesco

In other Invesco news, major shareholder Invesco Realty, Inc. purchased 796,323 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were purchased at an average cost of $25.12 per share, for a total transaction of $20,003,633.76. Following the completion of the transaction, the insider now owns 1,052,487 shares in the company, valued at $26,438,473.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

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.