StockNews.com Lowers Invesco (NYSE:IVZ) to Sell

StockNews.com cut shares of Invesco (NYSE:IVZ) from a hold rating to a sell rating in a report released on Saturday.

Several other equities analysts have also weighed in on IVZ. Evercore ISI increased their price objective 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of Invesco from $16.00 to $17.00 and gave the company a hold rating in a report on Thursday, August 15th. Barclays began coverage on Invesco in a report on Tuesday, August 27th. They set an equal weight rating and a $18.00 price objective for the company. The Goldman Sachs Group lowered their target price on Invesco from $17.50 to $17.00 and set a neutral rating on the stock in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada boosted their price target on Invesco from $16.00 to $17.00 and gave the company a sector perform rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $17.20.

Invesco Price Performance

Shares of IVZ opened at $17.09 on Friday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. Invesco has a twelve month low of $12.48 and a twelve month high of $18.28. The stock has a market capitalization of $7.69 billion, a P/E ratio of -22.79, a P/E/G ratio of 1.18 and a beta of 1.47. The company has a 50 day moving average of $16.19 and a 200-day moving average of $15.74.

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

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th will be given a $0.205 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.82 annualized dividend and a yield of 4.80%. Invesco’s dividend payout ratio is currently -109.33%.

Institutional Trading of Invesco

Several hedge funds have recently added to or reduced their stakes in IVZ. Point72 Asset Management L.P. raised its holdings in shares of Invesco by 1,411.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock worth $67,016,000 after purchasing an additional 3,507,900 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Invesco in the fourth quarter valued at $61,795,000. Dimensional Fund Advisors LP lifted its position in shares of Invesco by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after buying an additional 3,349,069 shares during the last quarter. Norges Bank bought a new position in shares of Invesco during the 4th quarter worth $59,713,000. Finally, Swedbank AB purchased a new stake in Invesco in the 1st quarter worth about $41,475,000. 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.