Invesco (NYSE:IVZ) Given New $18.00 Price Target at Keefe, Bruyette & Woods

Invesco (NYSE:IVZ) had its price target lowered by Keefe, Bruyette & Woods from $19.00 to $18.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a market perform rating on the asset manager’s stock.

A number of other equities research analysts have also commented on IVZ. 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 report on Friday, October 18th. Evercore ISI raised their price target on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their target price on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. One equities research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.88.

Invesco Stock Performance

NYSE:IVZ opened at $17.33 on Friday. The firm has a market capitalization of $7.79 billion, a PE ratio of -18.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94. The firm has a 50-day moving average price of $17.88 and a 200 day moving average price of $16.82.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.35 earnings per share. The business’s revenue was down 20.8% on a year-over-year basis. Research analysts anticipate that Invesco will post 1.69 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Thursday, November 14th. Invesco’s payout ratio is presently -89.13%.

Institutional Trading of Invesco

Several hedge funds have recently added to or reduced their stakes in IVZ. Harmony Asset Management LLC grew its stake in Invesco by 1.0% in the third quarter. Harmony Asset Management LLC now owns 61,400 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 600 shares during the period. Centennial Wealth Advisory LLC grew its position in shares of Invesco by 4.5% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 19,095 shares of the asset manager’s stock valued at $335,000 after purchasing an additional 816 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco by 1.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after purchasing an additional 946 shares during the period. Fifth Third Bancorp increased its stake in Invesco by 6.1% during the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock worth $249,000 after purchasing an additional 963 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Invesco by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock worth $1,378,000 after buying an additional 1,020 shares during the period. Institutional investors and hedge funds 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.