Invesco Ltd. (NYSE:IVZ) Receives $17.38 Average Price Target from Brokerages

Shares of Invesco Ltd. (NYSE:IVZ) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.46.

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Invesco from $21.00 to $19.50 and set an “outperform” rating for the company in a report on Wednesday, January 24th. The Goldman Sachs Group reduced their price objective on shares of Invesco from $18.00 to $17.75 and set a “neutral” rating for the company in a research note on Thursday, April 11th. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. TD Cowen began coverage on shares of Invesco in a research report on Thursday, January 4th. They set an “outperform” rating and a $21.00 price target for the company. Finally, Morgan Stanley increased their price objective on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday.

Invesco Stock Performance

Shares of IVZ stock opened at $15.27 on Friday. Invesco has a 12 month low of $12.48 and a 12 month high of $18.71. The stock has a market capitalization of $6.86 billion, a P/E ratio of -20.63, a PEG ratio of 1.01 and a beta of 1.44. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $15.78 and its 200 day moving average is $15.39.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a positive return on equity of 7.93% and a negative net margin of 1.70%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, sell-side analysts anticipate that Invesco will post 1.73 earnings per share for the current year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.80 dividend on an annualized basis and a yield of 5.24%. Invesco’s payout ratio is -108.11%.

Hedge Funds Weigh In On Invesco

Hedge funds and other institutional investors have recently modified their holdings of the company. Trian Fund Management L.P. lifted its position in Invesco by 18.8% in the 1st quarter. Trian Fund Management L.P. now owns 54,034,034 shares of the asset manager’s stock worth $1,404,885,000 after buying an additional 8,560,175 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Invesco by 14.0% in the 1st 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 last quarter. BlackRock Inc. boosted its stake in shares of Invesco by 5.6% in the 1st quarter. BlackRock Inc. now owns 47,752,801 shares of the asset manager’s stock valued at $783,146,000 after purchasing an additional 2,528,731 shares in the last quarter. State Street Corp grew its holdings in shares of Invesco by 58.2% during the 3rd quarter. State Street Corp now owns 25,414,143 shares of the asset manager’s stock valued at $348,174,000 after purchasing an additional 9,345,810 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Invesco by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock worth $246,163,000 after purchasing an additional 2,592,039 shares during the period. 66.09% of the stock is currently owned by hedge funds and other 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.