The Goldman Sachs Group Increases Invesco (NYSE:IVZ) Price Target to $19.50

Invesco (NYSE:IVZ) had its price target lifted by The Goldman Sachs Group from $17.50 to $19.50 in a report published on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

Several other research analysts have also recently weighed in on IVZ. UBS Group upped their price objective on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Monday. Barclays lifted their target price on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada increased their price objective on shares of Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.38.

Invesco Stock Performance

IVZ stock opened at $17.49 on Wednesday. Invesco has a 1-year low of $12.48 and a 1-year high of $18.79. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68. The firm has a market cap of $7.87 billion, a PE ratio of -23.32, a P/E/G ratio of 1.10 and a beta of 1.44. The business’s 50-day moving average price is $17.12 and its two-hundred day moving average price is $16.10.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. Invesco’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. As a group, research analysts forecast that Invesco will post 1.66 earnings per share for the current year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is -109.33%.

Institutional Trading of Invesco

Several hedge funds and other institutional investors have recently made changes to their positions in IVZ. Mirae Asset Global Investments Co. Ltd. grew its holdings in Invesco by 75.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,576 shares of the asset manager’s stock worth $610,000 after acquiring an additional 14,844 shares during the last quarter. Allworth Financial LP grew its stake in shares of Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,806 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Invesco in the third quarter valued at $331,000. Lecap Asset Management Ltd. bought a new position in Invesco during the 3rd quarter worth $725,000. Finally, Venture Visionary Partners LLC lifted its holdings in Invesco by 4.3% during the 3rd quarter. Venture Visionary Partners LLC now owns 95,423 shares of the asset manager’s stock worth $1,676,000 after buying an additional 3,949 shares during the period. 66.09% of the stock is currently 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.