Brokerages Set Invesco Ltd. (NYSE:IVZ) PT at $18.38

Shares of Invesco Ltd. (NYSE:IVZ) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.38.

A number of brokerages recently issued reports on IVZ. Morgan Stanley boosted their price target on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Evercore ISI lifted their price objective on Invesco from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Wednesday, October 23rd. Finally, UBS Group increased their target price on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd.

Invesco Stock Performance

IVZ stock opened at $17.78 on Thursday. The firm’s fifty day moving average is $17.24 and its 200 day moving average is $16.18. The company has a quick ratio of 5.80, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco has a 52 week low of $12.68 and a 52 week high of $18.79.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. On average, sell-side analysts forecast that Invesco will post 1.69 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Thursday, November 14th. Invesco’s payout ratio is presently -89.13%.

Institutional Investors Weigh In On Invesco

Several hedge funds and other institutional investors have recently made changes to their positions in IVZ. State Board of Administration of Florida Retirement System boosted its stake in Invesco by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock valued at $7,718,000 after buying an additional 44,417 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Invesco by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after purchasing an additional 58,332 shares during the last quarter. Bessemer Group Inc. grew its stake in Invesco by 5,321.9% during the 1st quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock worth $1,416,000 after buying an additional 83,767 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in Invesco in the first quarter valued at about $1,061,000. Finally, Duality Advisers LP boosted its stake in Invesco by 323.0% in the 1st quarter. Duality Advisers LP now owns 95,689 shares of the asset manager’s stock worth $1,587,000 after purchasing an additional 73,065 shares in the last quarter. Hedge funds and other 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.