Invesco (NYSE:IVZ) Sets New 12-Month High - Here's Why

Key Points

• Invesco Ltd. (IVZ) reached a new 52-week high of $22.69 during trading, closing at $22.66, with significant trading volume of 370,001 shares.
• Equity analysts have shown bullish sentiment, with TD Cowen raising their rating from "hold" to "buy" and increasing the target price from $17.50 to $25.00.
• Invesco announced a quarterly dividend of $0.21 per share, marking an annualized yield of 3.7% with a payout ratio of 90.32%.

Invesco Ltd. (NYSE:IVZ - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $22.69 and last traded at $22.66, with a volume of 370001 shares traded. The stock had previously closed at $22.16.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IVZ. Morgan Stanley lifted their price target on shares of Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. 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 note on Thursday, July 10th. Barclays increased their target price on shares of Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. TD Cowen upgraded shares of Invesco from a "hold" rating to a "buy" rating and boosted their price target for the company from $17.50 to $25.00 in a report on Monday, July 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $19.38.

Invesco Price Performance

The stock has a market cap of $9.86 billion, a P/E ratio of 23.77, a PEG ratio of 1.25 and a beta of 1.58. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The business's fifty day moving average price is $20.73 and its 200 day moving average price is $16.81.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. Sell-side analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, August 14th. Invesco's dividend payout ratio is 90.32%.

Insider Buying and Selling at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares of the company's stock, valued at approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.21% of the company's stock.

Institutional Investors Weigh In On Invesco

Several large investors have recently bought and sold shares of IVZ. Goldman Sachs Group Inc. increased its stake in Invesco by 99.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager's stock worth $106,598,000 after acquiring an additional 3,507,150 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Invesco by 5,065.4% during the 2nd quarter. First Trust Advisors LP now owns 3,380,933 shares of the asset manager's stock worth $53,317,000 after purchasing an additional 3,315,480 shares during the last quarter. Norges Bank acquired a new position in Invesco during the 2nd quarter valued at about $51,838,000. AQR Capital Management LLC increased its holdings in shares of Invesco by 35.4% in the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager's stock valued at $165,262,000 after purchasing an additional 2,882,928 shares during the period. Finally, Nuveen LLC acquired a new stake in Invesco during the first quarter worth about $29,138,000. 66.09% of the stock is currently owned by institutional investors.

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.