Invesco (NYSE:IVZ) Sets New 12-Month High - Still a Buy?

Key Points

• Invesco Ltd. shares reached a new 52-week high of $21.74, with a trading volume of over 2.29 million shares.
• Recent analysts' reports have resulted in varied price targets for Invesco, with Citigroup lowering its target to $16.00 and TD Cowen raising it to $25.00.
• The company reported a net margin of 10.68% and earnings per share (EPS) of $0.36, which was below analysts' expectations of $0.41.
• Invesco will pay a quarterly dividend of $0.21 to stockholders, representing an annualized yield of 3.86%.

Invesco Ltd. (NYSE:IVZ - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $21.74 and last traded at $21.74, with a volume of 2294508 shares trading hands. The stock had previously closed at $21.43.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IVZ. The Goldman Sachs Group raised their target price on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday, June 27th. Barclays raised their target price on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $14.50 to $18.00 in a research report on Friday, July 11th. TD Cowen raised Invesco from a "hold" rating to a "buy" rating and raised their target price for the company from $17.50 to $25.00 in a research report on Monday, July 21st. Finally, Evercore ISI raised their target price on Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a research report on Wednesday, April 23rd. Fourteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.78.

Invesco Stock Up 0.2%

The stock has a 50-day moving average of $16.35 and a two-hundred day moving average of $15.99. The company has a market cap of $9.72 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.37 and a current ratio of 0.59.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Invesco had a return on equity of 7.97% and a net margin of 10.68%. Invesco's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. On average, research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th will be paid a $0.21 dividend. The ex-dividend date is Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.87%. Invesco's dividend payout ratio (DPR) is currently 90.32%.

Hedge Funds Weigh In On Invesco

Several hedge funds have recently made changes to their positions in IVZ. Raymond James Financial Inc. purchased a new position in shares of Invesco during the fourth quarter valued at approximately $1,979,000. HighTower Advisors LLC boosted its position in shares of Invesco by 49.3% during the fourth quarter. HighTower Advisors LLC now owns 21,401 shares of the asset manager's stock valued at $374,000 after purchasing an additional 7,062 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Invesco by 39.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 178,857 shares of the asset manager's stock valued at $3,126,000 after purchasing an additional 50,139 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Invesco by 17.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,285,609 shares of the asset manager's stock valued at $22,472,000 after purchasing an additional 188,041 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in shares of Invesco by 3.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 88,545 shares of the asset manager's stock valued at $1,548,000 after purchasing an additional 3,227 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Company Profile

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.