Invesco (NYSE:IVZ) PT Lowered to $17.00

Invesco (NYSE:IVZ) had its target price reduced by The Goldman Sachs Group from $17.50 to $17.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Invesco from $17.00 to $16.50 and set a neutral rating for the company in a report on Wednesday, April 24th. TD Cowen dropped their target price on Invesco from $21.00 to $19.50 and set a buy rating on the stock in a research report on Wednesday, April 24th. BMO Capital Markets reissued a market perform rating and issued a $17.00 price target (down from $18.00) on shares of Invesco in a research report on Wednesday, April 24th. StockNews.com upgraded Invesco from a sell rating to a hold rating in a research note on Monday, June 17th. Finally, Morgan Stanley lifted their target price on Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a research note on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Invesco presently has an average rating of Hold and an average target price of $16.81.

Invesco Trading Up 0.3 %

IVZ opened at $15.05 on Tuesday. 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 stock’s fifty day moving average is $15.20 and its two-hundred day moving average is $15.89. The company has a market capitalization of $6.77 billion, a P/E ratio of -20.07, a PEG ratio of 1.14 and a beta of 1.47. Invesco has a 52 week low of $12.48 and a 52 week high of $18.71.

Invesco (NYSE:IVZ) last announced 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). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. Analysts forecast that Invesco will post 1.64 earnings per share for the current year.

Invesco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th were given a $0.205 dividend. This is a positive change from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Monday, May 13th. Invesco’s dividend payout ratio (DPR) is presently -109.33%.

Institutional Trading of Invesco

Several large investors have recently bought and sold shares of IVZ. Los Angeles Capital Management LLC acquired a new stake in shares of Invesco during the first quarter worth $2,066,000. Norges Bank acquired a new stake in Invesco during the 4th quarter worth about $59,713,000. PNC Financial Services Group Inc. grew its stake in 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 purchasing an additional 6,994 shares during the last quarter. ARGA Investment Management LP increased its holdings in shares of Invesco by 115.7% in the fourth quarter. ARGA Investment Management LP now owns 107,164 shares of the asset manager’s stock valued at $1,912,000 after purchasing an additional 57,476 shares during the period. Finally, Swiss National Bank purchased a new position in shares of Invesco in the fourth quarter worth about $11,830,000. 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.