Invesco (NYSE:IVZ) Sets New 52-Week High - Here's What Happened

Key Points

• Invesco Ltd. (NYSE:IVZ) reached a new 52-week high of $22.79 during trading, with analysts showing optimism as TD Cowen upgraded their rating from "hold" to "buy" and raised the price target from $17.50 to $25.00.
• The company has seen mixed earnings results, reporting $0.36 EPS in its last quarter, which was below the consensus estimate of $0.41, though revenue increased 2.2% year-over-year to $1.10 billion.
• A quarterly dividend of $0.21 was recently declared, yielding an annualized rate of 3.7%, with a payout ratio of 90.32% reported by the company.

Shares of Invesco Ltd. (NYSE:IVZ - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $22.79 and last traded at $22.77, with a volume of 718973 shares trading hands. The stock had previously closed at $22.49.

Analyst Ratings Changes

IVZ has been the subject of several research analyst reports. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $14.50 to $18.00 in a report on Friday, July 11th. Zacks Research raised Invesco to a "hold" rating in a report on Tuesday, August 12th. The Goldman Sachs Group increased their price target on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a report on Friday, June 27th. Barclays increased their price objective on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. 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 research report on Thursday, July 10th. Four 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, the stock has a consensus rating of "Hold" and a consensus target price of $19.38.

Invesco Trading Up 1.5%

The firm has a market cap of $10.22 billion, a PE ratio of 24.64, a PEG ratio of 1.27 and a beta of 1.58. The business has a 50-day moving average price of $21.25 and a two-hundred day moving average price of $17.03. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30.

Invesco (NYSE:IVZ - Get Free Report) last announced 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). Invesco had a net margin of 10.68% and a return on equity of 8.60%. The firm 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 business earned $0.43 EPS. The company's quarterly revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

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 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 was Thursday, August 14th. Invesco's dividend payout ratio (DPR) is currently 90.32%.

Insider Buying and Selling

In related news, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction dated 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 in the company, valued at approximately $660,392.60. This trade represents a 77.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.21% of the company's stock.

Institutional Trading of Invesco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IVZ. Royal Bank of Canada boosted its stake in Invesco by 201.1% in the 4th quarter. Royal Bank of Canada now owns 1,035,657 shares of the asset manager's stock worth $18,103,000 after buying an additional 691,704 shares during the last quarter. Tidal Investments LLC boosted its stake in Invesco by 6.1% in the 4th quarter. Tidal Investments LLC now owns 24,966 shares of the asset manager's stock worth $436,000 after buying an additional 1,434 shares during the last quarter. Woodline Partners LP acquired a new stake in Invesco in the 4th quarter worth about $472,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Invesco by 13.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,033,982 shares of the asset manager's stock worth $18,074,000 after buying an additional 123,826 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Invesco in the 4th quarter worth about $239,000. Hedge funds and other 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.