Prudential Financial Inc. Purchases 475,370 Shares of Invesco Ltd. $IVZ

Prudential Financial Inc. raised its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 82.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,052,329 shares of the asset manager’s stock after acquiring an additional 475,370 shares during the quarter. Prudential Financial Inc.’s holdings in Invesco were worth $16,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Invesco by 0.8% in the second quarter. Geode Capital Management LLC now owns 11,107,421 shares of the asset manager’s stock valued at $174,816,000 after purchasing an additional 88,094 shares during the period. AQR Capital Management LLC grew its stake in Invesco by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock valued at $165,262,000 after buying an additional 2,882,928 shares in the last quarter. Northern Trust Corp grew its stake in Invesco by 11.3% in the 1st quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager’s stock valued at $107,455,000 after buying an additional 721,947 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Invesco by 99.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock valued at $106,598,000 after acquiring an additional 3,507,150 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Invesco by 9.5% during the first quarter. Alliancebernstein L.P. now owns 6,985,352 shares of the asset manager’s stock worth $105,968,000 after acquiring an additional 605,161 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Analyst Ratings Changes

IVZ has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on Invesco from $26.50 to $25.50 and set a “neutral” rating for the company in a report on Tuesday. Zacks Research upgraded Invesco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada upped their price target on Invesco from $23.00 to $25.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. BMO Capital Markets reissued an “outperform” rating on shares of Invesco in a report on Friday, October 24th. Finally, Barclays boosted their price objective on shares of Invesco from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.63.

Insider Transactions at Invesco

In related news, Director Stephanie Butcher sold 103,192 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares in the company, valued at $660,392.60. The trade was a 77.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $23.56, for a total value of $3,769,600.00. Following the completion of the sale, the director directly owned 192 shares of the company’s stock, valued at approximately $4,523.52. This represents a 99.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.21% of the stock is currently owned by corporate insiders.

Invesco Trading Up 1.3%

Shares of IVZ opened at $24.55 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.30 and a quick ratio of 1.30. Invesco Ltd. has a 1-year low of $11.60 and a 1-year high of $24.79. The company has a market capitalization of $10.93 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.85 and a beta of 1.72. The firm’s 50 day simple moving average is $23.29 and its 200 day simple moving average is $20.03.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.4%. Invesco’s payout ratio is 57.14%.

About Invesco

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.