Invesco Ltd. (NYSE:IVZ) Receives $17.38 Average PT from Brokerages

Shares of Invesco Ltd. (NYSE:IVZ) have been assigned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $17.38.

A number of equities analysts have commented on IVZ shares. The Goldman Sachs Group increased their target price on Invesco from $16.00 to $16.25 and gave the company a “neutral” rating in a report on Thursday, June 12th. Wells Fargo & Company reduced their target price on Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Bank of America reduced their target price on Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Citigroup reduced their target price on Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Finally, TD Cowen cut Invesco from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $13.00 in a report on Wednesday, April 9th.

Invesco Stock Performance

NYSE IVZ opened at $14.53 on Friday. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.74 and a beta of 1.49. Invesco has a twelve month low of $11.60 and a twelve month high of $19.55. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average of $14.26 and a 200 day moving average of $16.02.

Invesco (NYSE:IVZ) last released its quarterly earnings results 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. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a return on equity of 8.94% and a net margin of 13.14%. During the same quarter in the prior year, the firm posted $0.33 EPS. Sell-side analysts anticipate that Invesco will post 1.87 EPS for the current fiscal year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.78%. The ex-dividend date was Wednesday, May 14th. This is a boost from Invesco’s previous quarterly dividend of $0.21. Invesco’s dividend payout ratio (DPR) is currently 67.20%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IVZ. Federated Hermes Inc. grew its position in Invesco by 186.6% in the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock worth $30,000 after acquiring an additional 1,282 shares during the period. SVB Wealth LLC purchased a new position in Invesco in the first quarter worth approximately $32,000. Colonial Trust Co SC purchased a new position in Invesco in the fourth quarter worth approximately $38,000. Summit Securities Group LLC purchased a new position in Invesco in the first quarter worth approximately $41,000. Finally, Aster Capital Management DIFC Ltd grew its position in Invesco by 180.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock worth $42,000 after acquiring an additional 1,531 shares during the period. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.