The Goldman Sachs Group Boosts Invesco (NYSE:IVZ) Price Target to $17.50

Invesco (NYSE:IVZ) had its target price upped by The Goldman Sachs Group from $17.25 to $17.50 in a report issued on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

Several other research analysts also recently commented on IVZ. Barclays initiated coverage on shares of Invesco in a research note on Tuesday, August 27th. They set an equal weight rating and a $18.00 price target on the stock. StockNews.com raised shares of Invesco from a sell rating to a hold rating in a research note on Monday, October 7th. Royal Bank of Canada lifted their target price on shares of Invesco from $16.00 to $17.00 and gave the stock a sector perform rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Invesco from $16.00 to $17.00 and gave the stock a hold rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company lifted their target price on shares of Invesco from $16.00 to $16.50 and gave the stock an underweight rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Invesco presently has a consensus rating of Hold and an average target price of $17.42.

Invesco Trading Up 0.1 %

IVZ stock opened at $17.69 on Thursday. The company has a market capitalization of $7.96 billion, a PE ratio of -23.59, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. Invesco has a one year low of $12.48 and a one year high of $18.28. The company’s 50 day moving average price is $16.77 and its two-hundred day moving average price is $16.01. 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 (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 firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. As a group, analysts predict that Invesco will post 1.66 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Friday, August 16th. Invesco’s payout ratio is currently -109.33%.

Institutional Trading of Invesco

A number of hedge funds have recently modified their holdings of IVZ. Quarry LP bought a new stake in shares of Invesco during the 4th quarter valued at $37,000. Fisher Asset Management LLC boosted its holdings in shares of Invesco by 11.1% during the 4th quarter. Fisher Asset Management LLC now owns 3,921,248 shares of the asset manager’s stock valued at $69,955,000 after buying an additional 391,933 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Invesco by 10.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock valued at $1,353,000 after buying an additional 6,994 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Invesco by 157.5% during the 4th quarter. Quadrature Capital Ltd now owns 71,425 shares of the asset manager’s stock valued at $1,274,000 after buying an additional 43,683 shares in the last quarter. Finally, NBC Securities Inc. boosted its holdings in shares of Invesco by 12.7% during the 1st quarter. NBC Securities Inc. now owns 17,170 shares of the asset manager’s stock valued at $284,000 after buying an additional 1,935 shares in the last quarter. Institutional investors own 66.09% of the company’s stock.

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.