Invesco (NYSE:IVZ) Sets New 1-Year High - Here's What Happened

Key Points

• Invesco shares reached a new 52-week high of $32.66, trading above both their 50-day moving average of $28.94 and 200-day moving average of $26.87.
• Recent analyst opinions remain cautious: the stock has an overall “Hold” rating and a consensus price target of $30.88, below its current trading level.
• Invesco exceeded quarterly earnings and revenue expectations, reporting $0.71 in EPS and $1.33 billion in revenue, while declaring a $0.215 quarterly dividend, equivalent to a 2.7% yield.

Invesco Ltd. (NYSE:IVZ - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $32.66 and last traded at $32.4650, with a volume of 2068497 shares. The stock had previously closed at $32.36.

Analyst Upgrades and Downgrades

IVZ has been the topic of several research reports. Jefferies Financial Group upgraded shares of Invesco to a "hold" rating in a report on Tuesday, June 30th. The Goldman Sachs Group upped their price objective on shares of Invesco from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Evercore set a $35.00 price objective on shares of Invesco in a research note on Monday. Argus reissued a "hold" rating on shares of Invesco in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada downgraded shares of Invesco from an "outperform" rating to a "hold" rating and set a $39.00 target price for the company. in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.88.

Invesco Price Performance

The stock's fifty day moving average is $28.94 and its 200-day moving average is $26.87. The stock has a market capitalization of $14.38 billion, a PE ratio of -47.72, a P/E/G ratio of 0.50 and a beta of 1.62. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.36 earnings per share. The firm's revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities analysts predict that Invesco Ltd. will post 2.81 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Friday, August 14th will be given a $0.215 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.7%. Invesco's payout ratio is -126.47%.

Hedge Funds Weigh In On Invesco

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Invesco by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 52,965,761 shares of the asset manager's stock worth $1,391,411,000 after purchasing an additional 947,693 shares in the last quarter. State Street Corp lifted its position in shares of Invesco by 1.5% in the second quarter. State Street Corp now owns 22,260,704 shares of the asset manager's stock valued at $351,051,000 after acquiring an additional 332,340 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Invesco by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager's stock worth $518,836,000 after acquiring an additional 596,434 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Invesco by 5.3% in the second quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager's stock worth $182,491,000 after acquiring an additional 584,035 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Invesco during the fourth quarter worth approximately $230,391,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange NYSE: IVZ. With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm's product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.

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