Invesco (NYSE:IVZ) Price Target Raised to $33.00

Invesco (NYSE:IVZ) had its price objective boosted by Barclays from $32.00 to $33.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the asset manager’s stock.

Other analysts have also recently issued reports about the company. UBS Group set a $36.00 target price on Invesco in a research note on Tuesday, October 13th. Jefferies Financial Group raised shares of Invesco to a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a research note on Friday, September 25th. Wall Street Zen downgraded shares of Invesco from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. Finally, Keefe, Bruyette & Woods assumed coverage on Invesco in a report on Wednesday, September 9th. They issued an “outperform” rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.79.

Invesco Price Performance

IVZ opened at $27.71 on Wednesday. The stock has a market capitalization of $12.28 billion, a P/E ratio of -40.16, a PEG ratio of 0.47 and a beta of 1.65. The stock has a 50-day moving average price of $30.54 and a 200-day moving average price of $28.00. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. Invesco has a 12-month low of $21.82 and a 12-month high of $33.66.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, October 27th. The asset manager reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). Invesco had a negative net margin of 1.10% and a positive return on equity of 12.65%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts predict that Invesco will post 2.80 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be given a dividend of $0.2150 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Invesco’s payout ratio is presently -124.64%.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 45,095 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $32.28, for a total transaction of $1,455,666.60. Following the sale, the director owned 10,205 shares in the company, valued at approximately $329,417.40. This trade represents a 81.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laura Dukes sold 31,075 shares of Invesco stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the transaction, the chief financial officer directly owned 259,183 shares in the company, valued at $8,594,508.28. This represents a 10.71% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 222,540 shares of company stock valued at $7,227,167. Insiders own 1.40% of the company’s stock.

Institutional Trading of Invesco

Several institutional investors and hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its position in Invesco by 2,633.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager’s stock valued at $23,330,000 after purchasing an additional 925,300 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Invesco by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock worth $518,836,000 after purchasing an additional 596,434 shares in the last quarter. Bank of America Corp DE boosted its holdings in Invesco by 28.9% in the first quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock worth $64,473,000 after acquiring an additional 595,797 shares in the last quarter. Sonoma Allocations LLC purchased a new stake in Invesco during the 2nd quarter worth approximately $11,797,000. Finally, Engineers Gate Manager LP grew its holdings in shares of Invesco by 47.0% during the second quarter. Engineers Gate Manager LP now owns 1,354,613 shares of the asset manager’s stock valued at $35,748,000 after buying an additional 433,287 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.

Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.