Prudential PLC boosted its stake in shares of Invesco Ltd. (NYSE:IVZ – Get Rating) by 109.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,487 shares of the asset manager’s stock after acquiring an additional 15,436 shares during the quarter. Prudential PLC’s holdings in Invesco were worth $530,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Invesco by 58.2% in the third quarter. State Street Corp now owns 25,414,143 shares of the asset manager’s stock valued at $348,174,000 after buying an additional 9,345,810 shares in the last quarter. Trian Fund Management L.P. increased its stake in shares of Invesco by 18.8% in 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 buying an additional 8,560,175 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Invesco by 14.0% in 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 buying an additional 6,384,917 shares in the last quarter. BlackRock Inc. increased its stake in shares of Invesco by 9.2% in the third quarter. BlackRock Inc. now owns 43,430,862 shares of the asset manager’s stock valued at $595,002,000 after buying an additional 3,642,905 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Invesco by 65.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,356,139 shares of the asset manager’s stock valued at $54,332,000 after buying an additional 935,205 shares in the last quarter. 69.42% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
IVZ has been the subject of a number of research reports. Citigroup initiated coverage on Invesco in a research report on Thursday. They issued a “neutral” rating for the company. Morgan Stanley lifted their price objective on Invesco from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 19th. BMO Capital Markets lifted their price objective on Invesco from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 25th. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Credit Suisse Group upgraded Invesco from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $14.50 to $15.00 in a research report on Wednesday, March 29th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.72.
Invesco Trading Up 0.8 %
Invesco (NYSE:IVZ – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The asset manager reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Invesco had a return on equity of 7.86% and a net margin of 14.87%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business posted $0.56 EPS. Invesco’s revenue for the quarter was down 13.0% on a year-over-year basis. Sell-side analysts expect that Invesco Ltd. will post 1.65 earnings per share for the current fiscal year.
Invesco Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Tuesday, May 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Monday, May 8th. This is a boost from Invesco’s previous quarterly dividend of $0.19. Invesco’s payout ratio is 57.97%.
About Invesco
Invesco Ltd. engages in the investment management business. Its product includes mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. The company was founded in December 1935 and is headquartered in Atlanta, GA.
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