Invesco (NYSE:IVZ - Get Free Report) announced its quarterly earnings data 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 firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the business posted $0.43 earnings per share. Invesco's revenue was up 2.2% on a year-over-year basis.
Invesco Stock Performance
Shares of NYSE IVZ traded up $0.01 during mid-day trading on Thursday, hitting $21.45. The company had a trading volume of 4,997,909 shares, compared to its average volume of 5,700,260. Invesco has a 12 month low of $11.60 and a 12 month high of $21.68. The firm has a market cap of $9.60 billion, a P/E ratio of 23.09, a PEG ratio of 1.84 and a beta of 1.48. The business's 50-day simple moving average is $15.73 and its 200-day simple moving average is $15.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.59 and a quick ratio of 1.37.
Invesco Dividend Announcement
The firm also recently declared 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. This represents a $0.84 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, August 14th. Invesco's dividend payout ratio is currently 67.20%.
Institutional Investors Weigh In On Invesco
A number of institutional investors have recently added to or reduced their stakes in IVZ. Integrated Wealth Concepts LLC acquired a new stake in Invesco during the first quarter worth about $563,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Invesco by 1.2% during 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 purchasing an additional 12,685 shares in the last quarter. Woodline Partners LP boosted its holdings in Invesco by 40.2% during the first quarter. Woodline Partners LP now owns 37,850 shares of the asset manager's stock valued at $574,000 after purchasing an additional 10,859 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Invesco by 7.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,767 shares of the asset manager's stock valued at $543,000 after purchasing an additional 2,393 shares in the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Evercore ISI increased their price objective on Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a report on Wednesday, April 23rd. Citigroup cut 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. The Goldman Sachs Group increased their price objective on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a report on Friday, June 27th. Wells Fargo & Company raised shares of Invesco from an "underweight" rating to an "equal weight" rating and increased 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 reissued a "sector perform" rating and set a $16.00 target price (up from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Fourteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.78.
View Our Latest Research Report on IVZ
About Invesco
(
Get Free Report)
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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