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. It manages separate client-focused equity and fixed income portfolios. The firm also launches equity, fixed income, commodity, multi-asset, and balanced mutual funds for its clients. It launches equity, fixed income, multi-asset, and balanced exchange-traded funds. The firm also launches and manages private funds. It invests in the public equity and fixed income markets across the globe. The firm also invests in alternative markets, such as commodities and currencies. For the equity portion of its portfolio, it invests in growth and value stocks of large-cap, mid-cap, and small-cap companies. For the fixed income portion of its portfolio, the firm invests in convertibles, government bonds, municipal bonds, treasury securities, and cash. It also invests in short term and intermediate term bonds, investment grade and high yield bonds, taxable and tax-free bonds, senior secured loans, and structured securities such as asset-backed securities, mortgage-backed securities, and commercial mortgage-backed securities. The firm employs absolute return, global macro, and long/short strategies. It employs quantitative analysis to make its investments. The firm was formerly known as Invesco Plc, AMVESCAP plc, Amvesco plc, Invesco PLC, Invesco MIM, and H. Lotery & Co. Ltd. Invesco Ltd. was founded in December 1935 and is based in Atlanta, Georgia with an additional office in Hamilton, Bermuda.
Analysts Set New Price Targets
A number of research firms recently commented on IVZ. JPMorgan Chase & Co. decreased their target price on shares of Invesco from $22.00 to $20.00 in a research report on Monday, July 18th. UBS Group dropped their target price on Invesco from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, August 1st. Morgan Stanley decreased their price target on Invesco from $23.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, June 30th. Citigroup cut their price objective on shares of Invesco from $26.00 to $22.50 in a report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Invesco from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.68.
Invesco Stock Performance
IVZ traded down $0.07 during midday trading on Monday, hitting $19.00. 220,179 shares of the company were exchanged, compared to its average volume of 4,527,925. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. Invesco has a 1-year low of $15.20 and a 1-year high of $27.03. The company's 50 day simple moving average is $17.02 and its 200 day simple moving average is $19.41. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.71.
Invesco (NYSE:IVZ - Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The asset manager reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.20). Invesco had a net margin of 19.67% and a return on equity of 12.05%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The company's quarterly revenue was down 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Invesco will post 2.01 earnings per share for the current year.
Invesco Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be paid a $0.188 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, August 11th. Invesco's dividend payout ratio (DPR) is presently 32.33%.
Insiders Place Their Bets
In other Invesco news, major shareholder Mm Asset Management Holding Ll acquired 827,590 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were purchased at an average cost of $16.08 per share, with a total value of $13,307,647.20. Following the purchase, the insider now owns 80,504,729 shares in the company, valued at $1,294,516,042.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.94% of the stock is currently owned by insiders.
