Invesco Ltd. (NYSE:IVZ) Declares Dividend Increase – $0.21 Per Share

Invesco Ltd. (NYSE:IVZ) declared a quarterly dividend on Wednesday, April 23rd, Wall Street Journal reports. Shareholders of record on Wednesday, May 14th will be given a dividend of 0.21 per share by the asset manager on Tuesday, June 3rd. This represents a $0.84 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend is Wednesday, May 14th. This is a 2.4% increase from Invesco’s previous quarterly dividend of $0.21.

Invesco has raised its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Invesco has a payout ratio of 46.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Invesco to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 40.6%.

Invesco Stock Performance

Shares of NYSE IVZ opened at $14.82 on Monday. The business’s 50-day simple moving average is $14.31 and its 200-day simple moving average is $16.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. Invesco has a 52 week low of $11.60 and a 52 week high of $19.55. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 0.98 and a beta of 1.47.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $0.33 earnings per share. As a group, equities research analysts expect that Invesco will post 1.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on IVZ shares. Bank of America lowered their target price on Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company cut their target price on shares of Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada initiated coverage on shares of Invesco in a research report on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price target on the stock. TD Cowen lowered shares of Invesco from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $13.00 in a research report on Wednesday, April 9th. Finally, UBS Group lifted their target price on Invesco from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.25.

About Invesco

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.