Invesco (NYSE:IVZ) Stock Rating Lowered by StockNews.com

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

A number of other research analysts have also recently issued reports on IVZ. Morgan Stanley reissued an equal weight rating and issued a $17.00 target price on shares of Invesco in a research note on Tuesday, July 25th. Royal Bank of Canada increased their price target on Invesco from $17.00 to $19.00 in a research report on Friday, July 21st. BMO Capital Markets began coverage on Invesco in a research report on Monday, July 10th. They set a market perform rating and a $21.00 price target on the stock. TheStreet downgraded Invesco from a b- rating to a c+ rating in a report on Tuesday, May 30th. Finally, Citigroup raised their target price on Invesco from $16.00 to $19.00 and gave the company a neutral rating in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $18.45.

Invesco Price Performance

Shares of NYSE:IVZ opened at $15.23 on Friday. Invesco has a 1-year low of $13.20 and a 1-year high of $20.56. The firm has a market capitalization of $6.83 billion, a PE ratio of 10.80, a PEG ratio of 1.36 and a beta of 1.39. The business’s 50 day moving average is $16.28 and its 200-day moving average is $16.21. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.71.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, July 25th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.09). Invesco had a net margin of 15.29% and a return on equity of 7.54%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Sell-side analysts predict that Invesco will post 1.53 earnings per share for the current year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 11th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.80 dividend on an annualized basis and a yield of 5.25%. Invesco’s payout ratio is 56.74%.

Insider Activity

In other Invesco news, major shareholder Invesco Realty, Inc. purchased 2,800,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was acquired at an average cost of $25.00 per share, with a total value of $70,000,000.00. Following the completion of the purchase, the insider now directly owns 853,400 shares of the company’s stock, valued at approximately $21,335,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Invesco

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its stake in Invesco by 58.2% in the third quarter. State Street Corp now owns 25,414,143 shares of the asset manager’s stock worth $348,174,000 after buying an additional 9,345,810 shares in the last quarter. Trian Fund Management L.P. raised its position in Invesco by 18.8% in the first quarter. Trian Fund Management L.P. now owns 54,034,034 shares of the asset manager’s stock worth $1,404,885,000 after acquiring an additional 8,560,175 shares during the period. Vanguard Group Inc. raised its position in Invesco by 14.0% in the first quarter. Vanguard Group Inc. now owns 52,105,335 shares of the asset manager’s stock worth $1,201,550,000 after acquiring an additional 6,384,917 shares during the period. Norges Bank bought a new position in Invesco in the fourth quarter worth approximately $58,133,000. Finally, Fisher Asset Management LLC raised its position in shares of Invesco by 4,967.2% during the 2nd quarter. Fisher Asset Management LLC now owns 3,223,116 shares of the asset manager’s stock valued at $54,180,000 after purchasing an additional 3,159,508 shares during the period. 66.27% of the stock is 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.