Invesco (NYSE:IVZ) Issues Quarterly Earnings Results

Invesco (NYSE:IVZ - Get Free Report) announced its quarterly earnings results on Tuesday. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05), Zacks reports. Invesco had a return on equity of 7.97% and a net margin of 10.68%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $0.43 earnings per share. The firm's revenue was up 2.2% compared to the same quarter last year.

Invesco Stock Performance

Shares of IVZ traded up $0.16 during mid-day trading on Friday, reaching $21.59. The company's stock had a trading volume of 1,876,998 shares, compared to its average volume of 5,694,626. Invesco has a 1-year low of $11.60 and a 1-year high of $21.68. The stock has a market cap of $9.66 billion, a P/E ratio of 23.19, a PEG ratio of 1.85 and a beta of 1.48. The business has a 50-day simple moving average of $15.97 and a two-hundred day simple moving average of $15.90. The company has a current ratio of 0.59, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67.

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.89%. Invesco's payout ratio is 67.20%.

Institutional Trading of Invesco

Hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Invesco by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,046,667 shares of the asset manager's stock valued at $15,878,000 after buying an additional 12,685 shares during the last quarter. Woodline Partners LP lifted its position in shares of Invesco by 40.2% in the first quarter. Woodline Partners LP now owns 37,850 shares of the asset manager's stock valued at $574,000 after buying an additional 10,859 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Invesco during the 1st quarter worth approximately $563,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Invesco by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,767 shares of the asset manager's stock worth $543,000 after purchasing an additional 2,393 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IVZ shares. Evercore ISI increased their price target on Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a report on Wednesday, April 23rd. Barclays increased their price target on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday. Morgan Stanley increased their price target on Invesco from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Wells Fargo & Company upgraded Invesco from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $14.50 to $18.00 in a report on Friday, July 11th. Finally, Citigroup decreased their price objective on Invesco from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Fourteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Invesco presently has an average rating of "Hold" and a consensus price target of $18.78.

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.