The Goldman Sachs Group Raises Invesco (NYSE:IVZ) Price Target to $16.25

Invesco (NYSE:IVZ - Free Report) had its target price upped by The Goldman Sachs Group from $16.00 to $16.25 in a research report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager's stock.

Several other analysts have also issued reports on IVZ. Morgan Stanley reduced their price target on shares of Invesco from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Evercore ISI lifted their price objective on shares of Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. TD Cowen cut shares of Invesco from a "buy" rating to a "hold" rating and decreased their price objective for the company from $22.00 to $13.00 in a research note on Wednesday, April 9th. Barclays lifted their price objective on shares of Invesco from $14.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Finally, Citigroup decreased their price objective on shares of Invesco from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.38.

Invesco Price Performance

Shares of IVZ traded down $0.44 during trading hours on Thursday, hitting $14.52. 5,120,727 shares of the company were exchanged, compared to its average volume of 4,369,469. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco has a fifty-two week low of $11.60 and a fifty-two week high of $19.55. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 0.98 and a beta of 1.49. The firm's fifty day moving average is $14.19 and its 200 day moving average is $16.06.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. Invesco had a net margin of 12.77% and a return on equity of 8.18%. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, equities analysts anticipate that Invesco will post 1.87 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.79%. This is a positive change from Invesco's previous quarterly dividend of $0.21. Invesco's dividend payout ratio (DPR) is currently 67.20%.

Institutional Trading of Invesco

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Invesco by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager's stock valued at $900,127,000 after buying an additional 419,389 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Invesco by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,104,545 shares of the asset manager's stock worth $351,430,000 after purchasing an additional 274,134 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Invesco by 35.4% during the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager's stock worth $165,262,000 after purchasing an additional 2,882,928 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Invesco by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 10,383,206 shares of the asset manager's stock worth $181,281,000 after purchasing an additional 134,726 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Invesco by 11.3% during the first quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager's stock worth $107,455,000 after purchasing an additional 721,947 shares during the period. Institutional investors and hedge funds 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.