Invesco (NYSE:IVZ) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Invesco shares fell below their 200-day moving average, trading as low as $27.38 and last changing hands at $27.71, down 4.5%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $33.79, despite mixed recommendations ranging from “outperform” to “hold.”
• Invesco reported quarterly EPS of $0.72, slightly below estimates, while revenue rose 16.5% year over year to $1.38 billion. The company also announced a quarterly dividend of $0.215 per share, representing a 3.1% yield.

Invesco Ltd. (NYSE:IVZ - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $28.00 and traded as low as $27.38. Invesco shares last traded at $27.71, with a volume of 5,864,917 shares trading hands.

Wall Street Analyst Weigh In

IVZ has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Invesco from $29.00 to $29.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods assumed coverage on shares of Invesco in a research note on Wednesday, September 9th. They issued an "outperform" rating and a $39.00 price target on the stock. UBS Group set a $36.00 price target on shares of Invesco in a report on Tuesday, October 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Invesco in a research report on Friday, September 25th. Finally, Zacks Research downgraded shares of Invesco from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.79.

Invesco Stock Down 4.5%

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $12.28 billion, a P/E ratio of -40.16, a P/E/G ratio of 0.47 and a beta of 1.65. The firm has a 50-day simple moving average of $30.54 and a 200 day simple moving average of $28.00.

Invesco (NYSE:IVZ - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The asset manager reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. Invesco had a negative net margin of 1.10% and a positive return on equity of 12.65%. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. On average, equities research analysts forecast that Invesco Ltd. will post 2.80 EPS for the current year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Friday, November 13th will be given a dividend of $0.2150 per share. The ex-dividend date is Friday, November 13th. This represents a $0.86 annualized dividend and a yield of 3.1%. Invesco's dividend payout ratio (DPR) is currently -124.64%.

Insider Buying and Selling at Invesco

In other Invesco news, Director Andrew Tak Shing Lo sold 100,840 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $32.20, for a total transaction of $3,247,048.00. Following the sale, the director directly owned 812,477 shares of the company's stock, valued at $26,161,759.40. The trade was a 11.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephanie Butcher sold 45,095 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $32.28, for a total transaction of $1,455,666.60. Following the completion of the transaction, the director owned 10,205 shares of the company's stock, valued at approximately $329,417.40. This trade represents a 81.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 222,540 shares of company stock valued at $7,227,167 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Invesco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky raised its position in shares of Invesco by 2,633.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager's stock worth $23,330,000 after acquiring an additional 925,300 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Invesco by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager's stock valued at $518,836,000 after purchasing an additional 596,434 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Invesco by 28.9% during the 1st quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager's stock valued at $64,473,000 after purchasing an additional 595,797 shares in the last quarter. Sonoma Allocations LLC acquired a new stake in Invesco during the second quarter worth approximately $11,797,000. Finally, Engineers Gate Manager LP grew its stake in Invesco by 47.0% during the second quarter. Engineers Gate Manager LP now owns 1,354,613 shares of the asset manager's stock worth $35,748,000 after purchasing an additional 433,287 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

About Invesco

Invesco Ltd. NYSE: IVZ is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.

Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.

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