Invesco (NYSE:IVZ) Price Target Cut to $19.50 by Analysts at TD Cowen

Invesco (NYSE:IVZ) had its target price reduced by TD Cowen from $21.00 to $19.50 in a research note published on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

IVZ has been the topic of several other reports. BMO Capital Markets reaffirmed a market perform rating and issued a $17.00 price objective (down from $18.00) on shares of Invesco in a research note on Wednesday. StockNews.com raised Invesco from a sell rating to a hold rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. reduced their price objective on Invesco from $17.00 to $16.50 and set a neutral rating on the stock in a research note on Wednesday. Royal Bank of Canada lifted their price objective on Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a research note on Thursday, January 18th. Finally, TheStreet lowered Invesco from a b- rating to a c rating in a research note on Friday, February 23rd. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $16.79.

Invesco Stock Performance

IVZ opened at $14.68 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.01 and a current ratio of 5.01. The business has a 50-day moving average of $15.69 and a two-hundred day moving average of $15.44. Invesco has a 12 month low of $12.48 and a 12 month high of $18.71.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. Sell-side analysts anticipate that Invesco will post 1.7 EPS for the current fiscal year.

Invesco Increases Dividend

The firm also recently announced 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 represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%. This is a positive change from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, May 13th. Invesco’s dividend payout ratio is presently -106.67%.

Hedge Funds Weigh In On Invesco

A number of institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP increased its holdings in shares of Invesco by 276.8% in the 3rd quarter. Quantbot Technologies LP now owns 81,754 shares of the asset manager’s stock valued at $1,187,000 after acquiring an additional 60,057 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Invesco in the 4th quarter valued at approximately $1,166,000. Northern Trust Corp increased its holdings in shares of Invesco by 30.7% in the 3rd quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock valued at $86,306,000 after acquiring an additional 1,395,023 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Invesco by 4.5% in the 3rd quarter. Raymond James & Associates now owns 65,917 shares of the asset manager’s stock valued at $957,000 after acquiring an additional 2,846 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Invesco by 99.6% in the 3rd quarter. Hsbc Holdings PLC now owns 749,137 shares of the asset manager’s stock valued at $10,912,000 after acquiring an additional 373,778 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

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.