Invesco (NYSE:IVZ) Hits New 52-Week High - Here's Why

Invesco Ltd. (NYSE:IVZ - Get Free Report) shares reached a new 52-week high during trading on Saturday . The stock traded as high as $20.05 and last traded at $19.94, with a volume of 35652899 shares trading hands. The stock had previously closed at $17.28.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays lifted their price objective on Invesco from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Wednesday. TD Cowen downgraded Invesco from a "buy" rating to a "hold" rating and lowered their price target for the company from $22.00 to $13.00 in a research report on Wednesday, April 9th. Morgan Stanley boosted their price target on Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Evercore ISI boosted their price target on Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a research report on Wednesday, April 23rd. Finally, Citigroup decreased their target price on Invesco from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Invesco presently has a consensus rating of "Hold" and a consensus target price of $17.65.

Invesco Trading Up 15.4%

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.37 and a quick ratio of 1.37. The company has a fifty day moving average of $15.52 and a 200-day moving average of $15.79. The firm has a market capitalization of $8.92 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 1.72 and a beta of 1.48.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a return on equity of 8.94% and a net margin of 13.14%. During the same period last year, the business posted $0.33 earnings per share. On average, sell-side analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.21 per share. This is a boost from Invesco's previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 14th. This represents a $0.84 dividend on an annualized basis and a yield of 4.21%. Invesco's dividend payout ratio (DPR) is currently 67.20%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Avantax Advisory Services Inc. raised its position in shares of Invesco by 6.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 11,133 shares of the asset manager's stock valued at $195,000 after acquiring an additional 710 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Invesco by 1.6% during the 1st quarter. D.A. Davidson & CO. now owns 47,462 shares of the asset manager's stock valued at $720,000 after acquiring an additional 755 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Invesco by 6.8% during the 1st quarter. EP Wealth Advisors LLC now owns 12,477 shares of the asset manager's stock valued at $189,000 after acquiring an additional 792 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Invesco by 17.1% during the 1st quarter. Brooklyn Investment Group now owns 5,465 shares of the asset manager's stock valued at $83,000 after acquiring an additional 800 shares during the last quarter. Finally, True Wealth Design LLC raised its position in shares of Invesco by 18.3% during the 4th quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager's stock valued at $91,000 after acquiring an additional 801 shares during the last quarter. Institutional investors own 66.09% of the company's stock.

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.