Invesco (NYSE:IVZ) Reaches New 52-Week High - Should You Buy?

Key Points

• Invesco Ltd. reached a new 52-week high of $21.85, closing at $21.48 with over 6.5 million shares traded.
• The company's recent earnings report showed an EPS of $0.36, missing estimates, while revenue rose 2.2% from the previous year to $1.10 billion.
• A quarterly dividend of $0.21 per share was announced, representing a yield of 3.91%, with an ex-dividend date of August 14th.

Invesco Ltd. (NYSE:IVZ - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $21.85 and last traded at $21.48, with a volume of 6510829 shares traded. The stock had previously closed at $21.72.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley increased their target price on Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. TD Cowen upgraded shares of Invesco from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $17.50 to $25.00 in a report on Monday, July 21st. Barclays raised their price target on shares of Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $16.00 price target (up from $14.00) on shares of Invesco in a report on Thursday, July 10th. Fourteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Invesco currently has an average rating of "Hold" and an average price target of $18.78.

Invesco Trading Down 1.9%

The firm has a market capitalization of $9.23 billion, a P/E ratio of 22.17, a PEG ratio of 1.12 and a beta of 1.54. The company has a quick ratio of 1.37, a current ratio of 0.59 and a debt-to-equity ratio of 0.67. The business's 50 day moving average is $16.74 and its two-hundred day moving average is $16.08.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 7.97%. The company's revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. Analysts expect that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th will be given a $0.21 dividend. The ex-dividend date is Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 4.1%. Invesco's payout ratio is 90.32%.

Institutional Investors Weigh In On Invesco

A number of institutional investors and hedge funds have recently bought and sold shares of the business. New York Life Investment Management LLC boosted its holdings in Invesco by 1.6% during the second quarter. New York Life Investment Management LLC now owns 60,067 shares of the asset manager's stock worth $947,000 after buying an additional 951 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Invesco by 23.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 68,544 shares of the asset manager's stock worth $1,081,000 after acquiring an additional 12,969 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Invesco by 151.6% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 230,252 shares of the asset manager's stock worth $3,631,000 after acquiring an additional 138,752 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Invesco during the second quarter worth $534,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Invesco by 17.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 129,180 shares of the asset manager's stock valued at $2,037,000 after purchasing an additional 19,389 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

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.