Invesco (NYSE:IVZ) Sets New 12-Month High - What's Next?

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) hit a new 52-week high during trading on Thursday . The company traded as high as $22.69 and last traded at $22.66, with a volume of 370001 shares changing hands. The stock had previously closed at $22.16.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore ISI restated a "positive" rating on shares of Invesco in a research report on Friday, September 5th. TD Cowen raised shares of Invesco from a "hold" rating to a "buy" rating and raised their price objective for the company from $17.50 to $25.00 in a research note on Monday, July 21st. Barclays raised their price objective 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. Morgan Stanley raised their target price 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. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $16.00 target price (up previously from $14.00) on shares of Invesco in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $19.38.

Invesco Stock Up 1.2%

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.24 and a beta of 1.58. The firm's 50 day simple moving average is $20.38 and its 200-day simple moving average is $16.71.

Invesco (NYSE:IVZ - Get Free Report) last released 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). Invesco had a return on equity of 8.60% and a net margin of 10.68%.The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Invesco's quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Invesco's dividend payout ratio is 90.32%.

Institutional Trading of Invesco

A number of institutional investors and hedge funds have recently bought and sold shares of IVZ. Ameriprise Financial Inc. increased its position in Invesco by 2.4% during the 4th quarter. Ameriprise Financial Inc. now owns 391,285 shares of the asset manager's stock worth $6,840,000 after purchasing an additional 9,018 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Invesco by 27.6% in the 4th quarter. Captrust Financial Advisors now owns 71,748 shares of the asset manager's stock worth $1,254,000 after acquiring an additional 15,534 shares during the period. EP Wealth Advisors LLC boosted its holdings in Invesco by 10.5% in the 4th quarter. EP Wealth Advisors LLC now owns 11,685 shares of the asset manager's stock worth $204,000 after acquiring an additional 1,107 shares during the period. Focus Partners Wealth boosted its holdings in Invesco by 66.8% in the 4th quarter. Focus Partners Wealth now owns 34,934 shares of the asset manager's stock worth $611,000 after acquiring an additional 13,991 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Invesco by 679.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 125,711 shares of the asset manager's stock worth $2,197,000 after acquiring an additional 109,582 shares during the period. Institutional investors and hedge funds own 66.09% of the company's stock.

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.

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