Brokerages Set Invesco Ltd. (NYSE:IVZ) Price Target at $16.79

Shares of Invesco Ltd. (NYSE:IVZ) have received a consensus rating of “Hold” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $16.79.

A number of equities analysts recently weighed in on IVZ shares. TD Cowen lowered their price target on shares of Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $17.00 price objective (down from $19.00) on shares of Invesco in a research report on Wednesday, April 24th. The Goldman Sachs Group lowered their price objective on Invesco from $17.75 to $16.75 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Morgan Stanley increased their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. cut their target price on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th.

Invesco Price Performance

Invesco stock opened at $14.96 on Friday. Invesco has a 52-week low of $12.48 and a 52-week high of $18.71. The company has a quick ratio of 6.89, a current ratio of 6.89 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average is $15.19 and its 200 day moving average is $15.94. The company has a market cap of $6.73 billion, a price-to-earnings ratio of -19.95, a PEG ratio of 1.13 and a beta of 1.46.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that Invesco will post 1.64 EPS for the current fiscal year.

Invesco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.205 per share. This is a positive change from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 5.48%. The ex-dividend date was Monday, May 13th. Invesco’s dividend payout ratio is -109.33%.

Hedge Funds Weigh In On Invesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its stake in shares of Invesco by 1,411.1% in the fourth quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock worth $67,016,000 after purchasing an additional 3,507,900 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Invesco in the fourth quarter valued at $61,795,000. Norges Bank bought a new position in Invesco during the fourth quarter valued at approximately $59,713,000. Dimensional Fund Advisors LP grew its stake in shares of Invesco by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock valued at $246,163,000 after buying an additional 2,592,039 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Invesco in the first quarter worth approximately $41,475,000. 66.09% of the stock is owned by institutional investors and hedge funds.

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.