Principal Financial Group Inc. Sells 547,522 Shares of Invesco Ltd. $IVZ

Principal Financial Group Inc. decreased its stake in Invesco Ltd. (NYSE:IVZ) by 37.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 921,304 shares of the asset manager’s stock after selling 547,522 shares during the period. Principal Financial Group Inc. owned about 0.21% of Invesco worth $21,135,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC acquired a new position in shares of Invesco during the third quarter worth $301,000. Thrivent Financial for Lutherans increased its holdings in Invesco by 83.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 631,046 shares of the asset manager’s stock worth $14,476,000 after purchasing an additional 287,219 shares in the last quarter. Arizona State Retirement System increased its holdings in Invesco by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 105,949 shares of the asset manager’s stock worth $2,430,000 after purchasing an additional 1,393 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in Invesco in the third quarter valued at about $502,000. Finally, AE Wealth Management LLC boosted its stake in shares of Invesco by 20.3% during the third quarter. AE Wealth Management LLC now owns 33,271 shares of the asset manager’s stock valued at $763,000 after purchasing an additional 5,616 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Stock Performance

Shares of IVZ opened at $26.85 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.83. The firm’s fifty day simple moving average is $27.18 and its two-hundred day simple moving average is $24.16. Invesco Ltd. has a 12 month low of $11.60 and a 12 month high of $29.61. The stock has a market capitalization of $11.95 billion, a P/E ratio of -16.78, a price-to-earnings-growth ratio of 0.48 and a beta of 1.69.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, January 27th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Invesco had a positive return on equity of 9.69% and a negative net margin of 6.92%.The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Friday, February 13th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.1%. Invesco’s dividend payout ratio (DPR) is -52.50%.

Analysts Set New Price Targets

Several research firms have recently issued reports on IVZ. Royal Bank Of Canada lowered their price objective on Invesco from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Fundamental Research set a $27.00 price target on shares of Invesco in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Invesco from a “hold” rating to a “buy” rating and lifted their price target for the stock from $26.00 to $31.00 in a report on Wednesday, December 17th. Argus set a $31.00 price objective on Invesco in a report on Wednesday, January 28th. Finally, Barclays lowered their target price on Invesco from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Invesco presently has a consensus rating of “Hold” and a consensus target price of $28.43.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.