Invesco (NYSE:IVZ) Price Target Cut to $16.50 by Analysts at JPMorgan Chase & Co.

Invesco (NYSE:IVZ) had its target price reduced by JPMorgan Chase & Co. from $17.00 to $16.50 in a report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

Several other brokerages have also issued reports on IVZ. UBS Group reduced their price target on Invesco from $18.00 to $17.00 and set a neutral rating for the company in a report on Monday, January 29th. Wells Fargo & Company reduced their price target on Invesco from $20.00 to $19.00 and set an overweight rating for the company in a report on Wednesday, January 24th. The Goldman Sachs Group reduced their price target on Invesco from $18.00 to $17.75 and set a neutral rating for the company in a report on Thursday, April 11th. TD Cowen began coverage on Invesco in a report on Thursday, January 4th. They set an outperform rating and a $21.00 price target for the company. Finally, StockNews.com upgraded Invesco from a sell rating to a hold rating in a report on Friday, February 23rd. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Invesco presently has a consensus rating of Hold and an average price target of $16.79.

Invesco Trading Down 0.4 %

Shares of IVZ opened at $14.52 on Wednesday. Invesco has a 1-year low of $12.48 and a 1-year high of $18.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.01 and a quick ratio of 5.01. The business’s 50-day moving average price is $15.73 and its 200 day moving average price is $15.44.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. On average, analysts expect that Invesco will post 1.75 earnings per share for the current fiscal year.

Invesco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be given a $0.205 dividend. This is an increase from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 5.65%. The ex-dividend date is Monday, May 13th. Invesco’s payout ratio is currently -106.67%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Gables Capital Management Inc. increased its position in Invesco by 74.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after buying an additional 700 shares during the period. Jones Financial Companies Lllp increased its position in shares of Invesco by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 766 shares during the period. Alaska Permanent Fund Corp increased its position in shares of Invesco by 0.5% during the fourth quarter. Alaska Permanent Fund Corp now owns 145,267 shares of the asset manager’s stock valued at $2,592,000 after purchasing an additional 767 shares during the period. Verdence Capital Advisors LLC increased its position in shares of Invesco by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager’s stock valued at $292,000 after purchasing an additional 843 shares during the period. Finally, MCF Advisors LLC increased its position in shares of Invesco by 16.1% during the fourth quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock valued at $110,000 after purchasing an additional 855 shares during the period. 66.09% of the stock is owned by institutional investors.

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.