81,332,339 Shares in Invesco Ltd. (NYSE:IVZ) Bought by Massachusetts Mutual Life Insurance Co.

Massachusetts Mutual Life Insurance Co. bought a new position in shares of Invesco Ltd. (NYSE:IVZ - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 81,332,339 shares of the asset manager's stock, valued at approximately $1,428,196,000. Invesco makes up approximately 83.3% of Massachusetts Mutual Life Insurance Co.'s investment portfolio, making the stock its largest holding. Massachusetts Mutual Life Insurance Co. owned 18.10% of Invesco at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IVZ. Harmony Asset Management LLC grew its stake in shares of Invesco by 1.0% in the 3rd quarter. Harmony Asset Management LLC now owns 61,400 shares of the asset manager's stock worth $1,078,000 after purchasing an additional 600 shares during the last quarter. Centennial Wealth Advisory LLC grew its position in Invesco by 3.8% in the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager's stock worth $273,000 after buying an additional 669 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco by 1.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager's stock valued at $1,001,000 after buying an additional 946 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Invesco by 6.1% during the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager's stock valued at $249,000 after acquiring an additional 963 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Invesco by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager's stock worth $1,378,000 after acquiring an additional 1,020 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Stock Down 0.4 %

Shares of IVZ traded down $0.07 during midday trading on Friday, reaching $17.83. 2,320,786 shares of the stock were exchanged, compared to its average volume of 2,998,342. The company has a market cap of $8.01 billion, a price-to-earnings ratio of -19.38, a P/E/G ratio of 1.04 and a beta of 1.43. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco Ltd. has a 12-month low of $14.16 and a 12-month high of $18.94. The firm has a 50 day simple moving average of $17.82 and a 200-day simple moving average of $16.66.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. Research analysts forecast that Invesco Ltd. will post 1.69 EPS for the current year.

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Thursday, November 14th. Invesco's dividend payout ratio is presently -89.13%.

Wall Street Analyst Weigh In

IVZ has been the topic of several recent analyst reports. UBS Group boosted their price objective on Invesco from $17.50 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Invesco from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on shares of Invesco from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their target price on shares of Invesco from $17.50 to $19.50 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their target price on Invesco from $18.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Invesco presently has a consensus rating of "Hold" and a consensus price target of $18.63.

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.