Invesco Ltd. (NYSE:IVZ) Receives $19.38 Average PT from Brokerages

Invesco Ltd. (NYSE:IVZ) has been assigned an average recommendation of “Hold” from the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $19.3833.

Several brokerages have commented on IVZ. Zacks Research upgraded Invesco to a “hold” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group upped their price objective on Invesco from $16.25 to $16.75 and gave the stock a “neutral” rating in a report on Friday, June 27th. Cowen reaffirmed a “buy” rating on shares of Invesco in a report on Thursday, September 18th. Evercore ISI reaffirmed a “positive” rating on shares of Invesco in a research note on Friday, September 5th. Finally, Morgan Stanley boosted their price objective on shares of Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 2nd.

Invesco Stock Performance

Shares of IVZ opened at $22.36 on Friday. The firm has a market cap of $9.97 billion, a PE ratio of 24.04, a PEG ratio of 1.25 and a beta of 1.58. Invesco has a 1 year low of $11.60 and a 1 year high of $22.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s fifty day moving average price is $21.57 and its two-hundred day moving average price is $17.15.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.Invesco’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. On average, equities research analysts forecast that Invesco will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.8%. Invesco’s payout ratio is 90.32%.

Insider Buying and Selling

In other news, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director directly owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This trade represents a 77.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On Invesco

Institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in Invesco by 1.5% during the 2nd quarter. State Street Corp now owns 22,260,704 shares of the asset manager’s stock valued at $351,051,000 after acquiring an additional 332,340 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Invesco by 5.3% in the 2nd quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager’s stock valued at $182,491,000 after purchasing an additional 584,035 shares during the period. Geode Capital Management LLC boosted its position in shares of Invesco by 0.8% during the second quarter. Geode Capital Management LLC now owns 11,107,421 shares of the asset manager’s stock valued at $174,816,000 after purchasing an additional 88,094 shares in the last quarter. Alliancebernstein L.P. grew its stake in Invesco by 13.4% in the second quarter. Alliancebernstein L.P. now owns 7,924,717 shares of the asset manager’s stock worth $124,973,000 after purchasing an additional 939,365 shares during the period. Finally, Northern Trust Corp raised its holdings in Invesco by 11.3% in 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 in the last quarter. 66.09% of the stock is owned by institutional investors.

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.