Invesco (NYSE:IVZ) Hits New 12-Month High - Time to Buy?

Key Points

• Invesco Ltd.'s stock reached a new 52-week high of $23.00, with a trading volume of over 3.3 million shares, closing at $22.99.
• Wall Street analysts have raised their target prices for Invesco, with Citigroup setting a new target of $25.00, while the consensus rating remains at "Hold" and a price target of $19.98.
• The company reported earnings of $0.36 per share for the last quarter, missing expectations, but showing a year-over-year revenue increase of 2.2% to $1.10 billion.

Invesco Ltd. (NYSE:IVZ - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $23.00 and last traded at $22.99, with a volume of 3324392 shares trading hands. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday, June 27th. Morgan Stanley upped their target price on shares of Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Citigroup upped their target price on shares of Invesco from $22.00 to $25.00 and gave the company a "neutral" rating in a research report on Monday. Barclays upped their target price on shares of Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $16.00 price objective (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Invesco has an average rating of "Hold" and a consensus price target of $19.98.

Invesco Price Performance

The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 1.28 and a beta of 1.58. The company's 50 day moving average is $21.62 and its 200-day moving average is $17.23. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88.

Invesco (NYSE:IVZ - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). Invesco had a net margin of 10.68% and a return on equity of 8.60%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $0.43 earnings per share. The company's revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Invesco's dividend payout ratio (DPR) is 90.32%.

Insiders Place Their Bets

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the transaction, the director directly owned 29,855 shares of the company's stock, valued at $660,392.60. This represents a 77.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. increased its stake in Invesco by 1.6% in the first quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager's stock valued at $720,000 after acquiring an additional 755 shares during the last quarter. IFP Advisors Inc increased its stake in Invesco by 55.7% in the second quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager's stock valued at $34,000 after acquiring an additional 761 shares during the last quarter. Forum Financial Management LP increased its stake in Invesco by 4.8% in the second quarter. Forum Financial Management LP now owns 17,327 shares of the asset manager's stock valued at $273,000 after acquiring an additional 791 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Invesco by 6.8% in the first quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager's stock valued at $189,000 after acquiring an additional 792 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Invesco by 0.8% in the second quarter. Russell Investments Group Ltd. now owns 102,584 shares of the asset manager's stock valued at $1,618,000 after acquiring an additional 792 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

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.

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