BMO Capital Markets reissued their market perform rating on shares of Invesco (NYSE:IVZ - Free Report) in a report issued on Wednesday, Benzinga reports. They currently have a $17.00 price objective on the asset manager's stock, down from their prior price objective of $18.00.
IVZ has been the subject of a number of other reports. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $17.00 price objective (down from $19.00) on shares of Invesco in a research report on Wednesday. Royal Bank of Canada lifted their price objective on Invesco from $14.00 to $16.00 and gave the stock a sector perform rating in a research report on Thursday, January 18th. The Goldman Sachs Group lowered their price objective on Invesco from $17.75 to $16.75 and set a neutral rating for the company in a research report on Wednesday. TheStreet lowered Invesco from a b- rating to a c rating in a research report on Friday, February 23rd. Finally, TD Cowen started coverage on Invesco in a research report on Thursday, January 4th. They issued an outperform rating and a $21.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $16.79.
Check Out Our Latest Stock Report on IVZ
Invesco Price Performance
Shares of Invesco stock traded down $0.06 during trading on Wednesday, reaching $14.52. The company's stock had a trading volume of 7,875,029 shares, compared to its average volume of 4,739,606. The stock has a 50-day moving average price of $15.75 and a two-hundred day moving average price of $15.45. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.77. Invesco has a one year low of $12.48 and a one year high of $18.71. The stock has a market capitalization of $6.52 billion, a P/E ratio of -19.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.44.
Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.07). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, sell-side analysts anticipate that Invesco will post 1.75 EPS for the current fiscal year.
Invesco Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Monday, May 13th. This is a boost from Invesco's previous quarterly dividend of $0.20. Invesco's payout ratio is -108.11%.
Hedge Funds Weigh In On Invesco
Several institutional investors have recently modified their holdings of the business. Gables Capital Management Inc. lifted its holdings in shares of Invesco by 74.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager's stock valued at $29,000 after purchasing an additional 700 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Invesco by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager's stock valued at $53,000 after purchasing an additional 766 shares in the last quarter. Alaska Permanent Fund Corp lifted its holdings in shares of Invesco by 0.5% during the 4th quarter. Alaska Permanent Fund Corp now owns 145,267 shares of the asset manager's stock valued at $2,592,000 after purchasing an additional 767 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Invesco by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager's stock valued at $292,000 after purchasing an additional 843 shares in the last quarter. Finally, MCF Advisors LLC lifted its holdings in shares of Invesco by 16.1% during the 4th quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager's stock valued at $110,000 after purchasing an additional 855 shares in the last quarter. Institutional investors own 66.09% of the company's stock.
About Invesco
(
Get Free Report)
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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