Invesco Ltd. $IVZ Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in Invesco Ltd. (NYSE:IVZ) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,277 shares of the asset manager’s stock after buying an additional 17,285 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Invesco were worth $1,865,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in IVZ. AQR Capital Management LLC raised its stake in shares of Invesco by 35.4% in the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock valued at $165,262,000 after acquiring an additional 2,882,928 shares in the last quarter. Northern Trust Corp increased its stake in Invesco by 11.3% in the first quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager’s stock valued at $107,455,000 after purchasing an additional 721,947 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Invesco by 99.6% during the first quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock worth $106,598,000 after purchasing an additional 3,507,150 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Invesco by 9.5% during the 1st quarter. Alliancebernstein L.P. now owns 6,985,352 shares of the asset manager’s stock worth $105,968,000 after buying an additional 605,161 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Invesco by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,452,945 shares of the asset manager’s stock valued at $67,551,000 after buying an additional 29,613 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Invesco in a research report on Friday, October 24th. Wall Street Zen raised Invesco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays upped their target price on Invesco from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Invesco in a research report on Thursday, November 13th. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of Invesco in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.70.

Invesco Stock Performance

NYSE IVZ opened at $22.94 on Thursday. The stock has a market capitalization of $10.21 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.85 and a beta of 1.72. The business’s 50 day moving average is $23.15 and its two-hundred day moving average is $19.71. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $24.75. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a return on equity of 8.52% and a net margin of 14.15%.The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts expect that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, November 14th. Invesco’s payout ratio is presently 57.14%.

Insiders Place Their Bets

In other news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares in the company, valued at $660,392.60. This trade represents a 77.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas J. Sharp sold 160,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the completion of the sale, the director owned 192 shares of the company’s stock, valued at $4,523.52. This trade represents a 99.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.21% 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.