Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Invesco (NYSE:IVZ)

Keefe, Bruyette & Woods reissued their market perform rating on shares of Invesco (NYSE:IVZ) in a report issued on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a $17.00 target price on the asset manager’s stock, down from their previous target price of $19.00.

Several other research analysts have also commented on the stock. UBS Group cut their price target on shares of Invesco from $18.00 to $17.00 and set a neutral rating on the stock in a report on Monday, January 29th. StockNews.com raised shares of Invesco from a sell rating to a hold rating in a research report on Friday, February 23rd. Morgan Stanley increased their price objective on shares of Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Royal Bank of Canada increased their price objective on shares of Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a research report on Thursday, January 18th. Finally, The Goldman Sachs Group lowered their price objective on shares of Invesco from $18.00 to $17.75 and set a neutral rating for the company in a research report on Thursday, April 11th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $16.79.

Invesco Trading Up 1.1 %

NYSE IVZ opened at $14.68 on Wednesday. Invesco has a one year low of $12.48 and a one year high of $18.71. The company’s 50 day moving average price is $15.69 and its 200 day moving average price is $15.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.01 and a current ratio of 5.01.

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). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Invesco will post 1.7 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%. This is an increase from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio (DPR) is presently -106.67%.

Institutional Trading of Invesco

A number of hedge funds have recently made changes to their positions in IVZ. Gables Capital Management Inc. boosted its holdings in Invesco by 74.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after purchasing an additional 700 shares during the period. Orion Capital Management LLC acquired a new position in Invesco in the third quarter worth $25,000. Pinnacle Bancorp Inc. boosted its holdings in Invesco by 100.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after purchasing an additional 1,000 shares during the period. Quarry LP acquired a new position in Invesco in the fourth quarter worth $37,000. Finally, Jones Financial Companies Lllp acquired a new position in Invesco in the third quarter worth $32,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.