Invesco Ltd. (NYSE:IVZ) Receives $17.20 Average PT from Brokerages

Invesco Ltd. (NYSE:IVZ) has been given an average recommendation of “Hold” by the thirteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $16.98.

IVZ has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada raised their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Wells Fargo & Company initiated coverage on shares of Invesco in a research report on Thursday. They issued an “underweight” rating and a $16.00 target price on the stock. Evercore ISI boosted their price target on shares of Invesco from $17.00 to $18.00 and gave the company an “in-line” rating in a research report on Tuesday, August 20th. Finally, Barclays began coverage on Invesco in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 target price on the stock.

Invesco Stock Performance

Shares of IVZ opened at $16.02 on Wednesday. The stock has a 50-day simple moving average of $16.38 and a 200-day simple moving average of $15.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. Invesco has a 1 year low of $12.48 and a 1 year high of $18.28. The stock has a market capitalization of $7.21 billion, a PE ratio of -21.36, a PEG ratio of 1.09 and a beta of 1.44.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. On average, analysts predict that Invesco will post 1.65 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were given a $0.205 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.82 dividend on an annualized basis and a yield of 5.12%. Invesco’s dividend payout ratio (DPR) is -109.33%.

Hedge Funds Weigh In On Invesco

Large investors have recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in shares of Invesco in the second quarter valued at about $28,000. Sentry Investment Management LLC acquired a new stake in Invesco in the second quarter valued at about $30,000. Quarry LP purchased a new stake in Invesco in the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its holdings in Invesco by 182.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 1,589 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Invesco during the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.