The Goldman Sachs Group Lowers Invesco (NYSE:IVZ) Price Target to $17.00

Invesco (NYSE:IVZ) had its price target lowered by The Goldman Sachs Group from $18.50 to $17.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

Several other analysts have also weighed in on IVZ. Royal Bank of Canada started coverage on shares of Invesco in a research note on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price objective for the company. Morgan Stanley lifted their price target on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays upped their price target on Invesco from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Invesco currently has an average rating of “Hold” and an average target price of $19.30.

Invesco Stock Performance

Shares of IVZ opened at $12.78 on Thursday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. The firm’s fifty day simple moving average is $16.85 and its two-hundred day simple moving average is $17.37. Invesco has a 12 month low of $12.35 and a 12 month high of $19.55. The stock has a market capitalization of $5.72 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. As a group, analysts predict that Invesco will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date was Friday, February 14th. Invesco’s dividend payout ratio is 69.49%.

Institutional Trading of Invesco

Several institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Mutual Life Insurance Co. purchased a new position in Invesco during the third quarter worth about $1,428,196,000. Norges Bank purchased a new position in shares of Invesco in the 4th quarter worth approximately $57,459,000. AQR Capital Management LLC boosted its stake in shares of Invesco by 38.5% in the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock worth $142,385,000 after buying an additional 2,264,551 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Invesco by 2,385.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock valued at $29,301,000 after acquiring an additional 1,642,645 shares in the last quarter. Finally, Amundi increased its position in shares of Invesco by 124.6% during the fourth quarter. Amundi now owns 2,653,259 shares of the asset manager’s stock valued at $45,424,000 after acquiring an additional 1,472,178 shares during the last quarter. Hedge funds and other institutional investors 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.