PNC Financial Services Group Inc. Increases Holdings in Invesco Ltd. $IVZ

PNC Financial Services Group Inc. increased its position in Invesco Ltd. (NYSE:IVZ) by 22.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,322 shares of the asset manager’s stock after buying an additional 27,045 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Invesco were worth $3,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC boosted its stake in shares of Invesco by 4,802.9% in the 2nd quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 1,633 shares in the last quarter. CNB Bank bought a new stake in Invesco in the third quarter worth $26,000. Root Financial Partners LLC purchased a new stake in Invesco during the third quarter valued at about $30,000. Sentry Investment Management LLC bought a new position in shares of Invesco during the third quarter valued at about $30,000. Finally, Quent Capital LLC bought a new position in shares of Invesco during the third quarter valued at about $37,000. 66.09% of the stock is currently owned by institutional investors.

Invesco Stock Performance

NYSE:IVZ opened at $26.46 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.83. The firm’s fifty day simple moving average is $27.36 and its 200 day simple moving average is $24.51. The stock has a market cap of $11.78 billion, a P/E ratio of -16.54, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $29.61.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, January 27th. The asset manager reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Invesco had a negative net margin of 6.92% and a positive return on equity of 9.69%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. As a group, research analysts predict that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Friday, February 13th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Invesco’s payout ratio is presently -52.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IVZ. Deutsche Bank Aktiengesellschaft upgraded Invesco from a “hold” rating to a “buy” rating and increased their target price for the company from $26.00 to $31.00 in a report on Wednesday, December 17th. Fundamental Research set a $27.00 price objective on Invesco in a research note on Friday, October 31st. Morgan Stanley set a $29.00 target price on shares of Invesco in a report on Monday, January 26th. Argus set a $31.00 price target on shares of Invesco in a report on Wednesday, January 28th. Finally, TD Cowen set a $34.50 price target on shares of Invesco in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Invesco has an average rating of “Hold” and an average target price of $28.46.

Invesco Profile

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.