PNC Financial Services Group Inc. Boosts Stake in Invesco Ltd. $IVZ

PNC Financial Services Group Inc. lifted its position in shares of Invesco Ltd. (NYSE:IVZ) by 41.5% during the 4th quarter, HoldingsChannel reports. The fund owned 205,615 shares of the asset manager’s stock after purchasing an additional 60,293 shares during the period. PNC Financial Services Group Inc.’s holdings in Invesco were worth $5,402,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IVZ. Root Financial Partners LLC purchased a new stake in shares of Invesco during the 3rd quarter worth about $30,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the 3rd quarter worth about $30,000. American National Bank & Trust purchased a new stake in shares of Invesco during the 4th quarter worth about $31,000. Larson Financial Group LLC boosted its stake in shares of Invesco by 61.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,466 shares of the asset manager’s stock worth $34,000 after acquiring an additional 558 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in shares of Invesco during the 4th quarter worth about $44,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Trading Down 0.1%

Shares of Invesco stock opened at $27.04 on Tuesday. The firm has a market capitalization of $11.98 billion, a PE ratio of -18.39, a P/E/G ratio of 0.63 and a beta of 1.60. Invesco Ltd. has a twelve month low of $14.10 and a twelve month high of $29.61. The firm’s 50-day moving average price is $25.16 and its 200 day moving average price is $25.77. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Invesco had a negative net margin of 6.11% and a positive return on equity of 11.34%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, sell-side analysts predict that Invesco Ltd. will post 2.58 EPS for the current fiscal year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th will be paid a $0.215 dividend. This is a positive change from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.86 dividend on an annualized basis and a yield of 3.2%. Invesco’s dividend payout ratio is -58.50%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IVZ. Zacks Research lowered shares of Invesco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Wall Street Zen lowered shares of Invesco from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Invesco in a research note on Tuesday, April 21st. The Goldman Sachs Group raised their price target on shares of Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, TD Cowen raised their price target on shares of Invesco from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.29.

About Invesco

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.