Invesco (NYSE:IVZ) Hits New 1-Year High - Should You Buy?

Key Points

• Invesco shares hit a new 52-week high, trading as high as $30.32 amid strong recent momentum. The stock is now well above its 50-day and 200-day moving averages.
• Analysts remain mixed on the stock, with an overall consensus rating of “Hold” and an average price target of $29.08. Recent updates included higher targets from TD Cowen and Morgan Stanley, while other firms maintained or lowered their views.
• Fundamentals show modest growth and a higher dividend, as Invesco posted revenue growth of 14% year over year and raised its quarterly dividend to $0.215 per share, equal to a 2.9% annual yield.

Shares of Invesco Ltd. (NYSE:IVZ - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $30.32 and last traded at $30.3280, with a volume of 842138 shares trading hands. The stock had previously closed at $28.73.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IVZ. TD Cowen increased their price objective on shares of Invesco from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Morgan Stanley upped their price target on shares of Invesco from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, June 26th. Argus reiterated a "hold" rating on shares of Invesco in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Invesco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 29th. Finally, BMO Capital Markets lowered their price objective on shares of Invesco from $32.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, April 10th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Invesco has an average rating of "Hold" and an average price target of $29.08.

Invesco Price Performance

The firm has a market capitalization of $13.30 billion, a P/E ratio of -20.42, a PEG ratio of 0.51 and a beta of 1.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.45. The company has a fifty day moving average of $27.60 and a 200 day moving average of $26.48.

Invesco (NYSE:IVZ - Get Free Report) 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 positive return on equity of 11.34% and a negative net margin of 6.11%.The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business's revenue was up 14.0% on a year-over-year basis. Sell-side analysts predict that Invesco Ltd. will post 2.7 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 15th were given a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Invesco's previous quarterly dividend of $0.21. Invesco's payout ratio is -58.50%.

Institutional Trading of Invesco

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. purchased a new position in shares of Invesco in the fourth quarter valued at about $230,391,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Invesco by 368.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,729,393 shares of the asset manager's stock worth $176,782,000 after purchasing an additional 5,292,867 shares during the period. Norges Bank bought a new stake in shares of Invesco in the fourth quarter worth about $102,523,000. Holocene Advisors LP purchased a new position in Invesco during the 3rd quarter valued at about $55,719,000. Finally, Samlyn Capital LLC purchased a new position in Invesco during the 3rd quarter valued at about $44,567,000. Hedge funds and other institutional investors own 66.09% of the company's stock.

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.

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