JPMorgan Chase & Co. Cuts Invesco (NYSE:IVZ) Price Target to $19.00

Invesco (NYSE:IVZ) had its target price cut by JPMorgan Chase & Co. from $20.00 to $19.00 in a report published on Tuesday. They currently have a neutral rating on the asset manager’s stock.

Other analysts also recently issued reports about the company. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their target price on Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a report on Monday, November 11th. UBS Group upped their price target on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley dropped their price objective on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their target price on shares of Invesco from $19.25 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.71.

Invesco Stock Performance

Invesco stock opened at $19.26 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. Invesco has a 12 month low of $14.16 and a 12 month high of $19.55. The company has a market cap of $8.65 billion, a price-to-earnings ratio of -20.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. The stock’s 50-day moving average is $17.70 and its 200-day moving average is $17.30.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. Equities analysts anticipate that Invesco will post 1.7 earnings per share for the current year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th will be issued a $0.205 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.26%. Invesco’s dividend payout ratio (DPR) is 69.49%.

Hedge Funds Weigh In On Invesco

Several large investors have recently added to or reduced their stakes in IVZ. Massachusetts Mutual Life Insurance Co. acquired a new stake in shares of Invesco during the third quarter worth $1,428,196,000. Azora Capital LP bought a new position in Invesco in the third quarter worth about $27,289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Invesco by 131.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager’s stock valued at $15,982,000 after acquiring an additional 516,622 shares during the period. Algert Global LLC boosted its stake in Invesco by 1,207.8% in the third quarter. Algert Global LLC now owns 481,270 shares of the asset manager’s stock valued at $8,451,000 after acquiring an additional 444,470 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $4,889,000. 66.09% of the stock is currently owned by institutional investors.

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.