Prudential Financial Inc. trimmed its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 22.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Massachusetts Mutual Life Insurance Co. purchased a new stake in Invesco in the 3rd quarter valued at approximately $1,428,196,000. Vanguard Group Inc. boosted its stake in shares of Invesco by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager's stock worth $900,127,000 after acquiring an additional 419,389 shares in the last quarter. State Street Corp boosted its stake in shares of Invesco by 0.7% during the 3rd quarter. State Street Corp now owns 21,060,533 shares of the asset manager's stock worth $369,823,000 after acquiring an additional 151,408 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Invesco by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager's stock worth $179,666,000 after acquiring an additional 93,126 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Invesco by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,423,332 shares of the asset manager's stock valued at $77,320,000 after buying an additional 111,518 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on IVZ. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $20.00 target price (up previously from $18.00) on shares of Invesco in a research note on Wednesday, January 29th. Citigroup cut their price target on Invesco from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, March 31st. TD Cowen downgraded Invesco from a "buy" rating to a "hold" rating and cut their price target for the company from $22.00 to $13.00 in a report on Wednesday. BMO Capital Markets boosted their price target on Invesco from $19.00 to $21.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada initiated coverage on Invesco in a report on Tuesday, January 28th. They set a "sector perform" rating and a $19.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $18.57.
Check Out Our Latest Report on IVZ
Invesco Stock Down 5.2 %
Shares of Invesco stock traded down $0.71 on Thursday, hitting $12.94. 1,913,673 shares of the company traded hands, compared to its average volume of 4,194,661. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $19.55. The company has a 50-day moving average price of $16.24 and a 200 day moving average price of $17.22. The company has a market cap of $5.79 billion, a PE ratio of 10.97, a PEG ratio of 0.98 and a beta of 1.26.
Invesco (NYSE:IVZ - Get Free Report) last released its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. Sell-side analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current year.
Invesco Dividend Announcement
The business also recently disclosed 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. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date was Friday, February 14th. Invesco's dividend payout ratio is currently 69.49%.
About Invesco
(
Free Report)
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.
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