Investment giant, Prudential PLC, is making waves in the asset management industry with its most recent acquisition of Invesco Ltd. In a dazzling display of financial prowess, Prudential has boosted its stake in the company by a staggering 109.9%, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC).
With this move, Prudential now owns an impressive 29,487 shares of Invesco’s stock and will undoubtedly have a significant presence in the investment management business. The institutional investor remains bullish on Invesco’s prospects, as evidenced by their purchase of an additional 15,436 shares during the fourth quarter. As of its most recent SEC filing, Prudential’s holdings in Invesco were valued at $530,000- a feat that is sure to shake up the industry.
Invesco Ltd., founded in December 1935 and based in Atlanta, GA., offers an array of products ranging from mutual funds to closed-end funds to unit trusts to exchange-traded funds as well as retirement plans. With such a diverse portfolio available for investors, it comes as no surprise that large-scale investors like Prudential are moving aggressively to get a foothold in this arena.
Currently trading at $15.33 on NYSE: IVZ, Invesco experienced both lows and highs over the past year with fifty-two week low at $13.20 and high at $20.56 respectively. With a debt-to-equity ratio of just .69 and both current ratio and quick ratio holding steady around 4.88 respectively- companies like Invesco are proving that they can weather any storm thrown their way.
In spite of underperforming expectations on earnings per share for Q1 FY2020 results- closing at $0.44 per share undershooting estimates by around $.03 per share – there are still plenty of reasons for investors to be optimistic about Invesco’s future. With a market capitalization of $7.02 billion, a price-to-earnings-growth ratio of 1.28, and a beta of 1.34; Invesco still remains an attractive investment option.
In summary, the latest move by Prudential is indicative of the company’s commitment towards creating value for its shareholders through strategic investments in companies such as Invesco Ltd. This acquisition reinforces Prudential’s position as one of the major players in the industry and shows that they are not afraid to make bold moves when it comes to securing their place at the top. With outstanding potential within the asset management sector and an impressive range of products already on offer, this acquisition could well serve to elevate Invesco from strength to strength in the years ahead – offering growth and returns for investors with a keen eye on the market.
Invesco Ltd Sees Interest from Hedge Funds and Positive Performance Despite Mixed Analyst Ratings[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”IVZ” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]
Invesco Ltd, a leading investment management company, has been sought out by several hedge funds in recent times for its promising stocks and assets. State Street Corp increased its stake in shares of the asset management firm by 58.2% in Q3, while Trian Fund Management L.P. followed suit in Q1 with an increase of 18.8%. BlackRock Inc., Vanguard Group Inc., and Goldman Sachs Group Inc. also showed interest in acquiring Invesco’s shares and assets.
Despite Invesco’s positive performance as reflected in the earnings per share report released on April 25th, Citigroup issued a neutral rating for the company while ten analysts have given a hold rating and only one analyst gave a buy rating to Invesco’s stocks based on data from Bloomberg.
The financial company has an extensive product range that includes mutual funds, unit trusts, exchange-traded funds, closed-end funds, and retirement plans. Established in 1935 with headquarters located in Atlanta, Georgia, they posted revenue of $1.42 billion for Q1 on a year-over-year basis down 13% but still above analysts’ expectations of $1.10 billion.
Stockholders will be pleased to know that Invesco recently increased its quarterly dividend payout from $0.19 to $0.20 per share which represents an annualized dividend of $0.80 and a dividend yield of 5.22%. The ex-dividend date is set for May 8th while payment will commence on June 2nd.
As sell-side analysts predict that Invesco Ltd will post earnings per share worth 1.65 for this fiscal year amid continued acquisitions by hedge funds and recent positive reports plus agreeing dividends payout; becomes an attractive proposal with potential upsides for investments within the latter part of the year ahead.”