Invesco (NYSE:IVZ) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Invesco's share price reached a new 52-week high of $24.33 after Morgan Stanley raised its price target from $24.00 to $26.00.
• Director Stephanie Butcher sold 103,192 shares of Invesco, decreasing her ownership by 77.56% and raising questions about insider confidence.
• The company declared a quarterly dividend of $0.21, reflecting an annualized yield of 3.4% with a dividend payout ratio of 90.32%.

Invesco Ltd. (NYSE:IVZ - Get Free Report)'s share price reached a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $24.00 to $26.00. Morgan Stanley currently has an equal weight rating on the stock. Invesco traded as high as $24.33 and last traded at $24.29, with a volume of 557506 shares. The stock had previously closed at $24.04.

Other equities analysts have also issued research reports about the company. TD Cowen raised Invesco from a "hold" rating to a "buy" rating and upped their price target for the company from $17.50 to $25.00 in a research note on Monday, July 21st. BMO Capital Markets began coverage on Invesco in a research note on Friday. They set an "outperform" rating and a $28.00 price target on the stock. The Goldman Sachs Group upped their price objective on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a report on Friday, June 27th. Zacks Research upgraded Invesco to a "hold" rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $16.00 price objective (up previously from $14.00) on shares of Invesco in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $21.58.

Insider Activity

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director directly owned 29,855 shares in the company, valued at $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Capital A Wealth Management LLC grew its holdings in shares of Invesco by 4,802.9% during the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager's stock worth $26,000 after buying an additional 1,633 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Invesco by 186.6% during the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager's stock worth $30,000 after buying an additional 1,282 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Invesco by 55.7% during the second quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager's stock worth $34,000 after buying an additional 761 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Invesco during the first quarter worth about $32,000. Finally, UMB Bank n.a. grew its stake in Invesco by 45.8% in the second quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager's stock valued at $41,000 after purchasing an additional 824 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors.

Invesco Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. The stock has a 50 day simple moving average of $21.84 and a two-hundred day simple moving average of $17.51. The stock has a market capitalization of $10.88 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.20 and a beta of 1.66.

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

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, August 14th. Invesco's dividend payout ratio (DPR) is currently 90.32%.

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.

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