Invesco (NYSE:IVZ) Sets New 52-Week Low Following Analyst Downgrade

Invesco Ltd. (NYSE:IVZ) reached a new 52-week low during trading on Wednesday after TD Cowen downgraded the stock from a buy rating to a hold rating. TD Cowen now has a $13.00 price target on the stock, down from their previous price target of $22.00. Invesco traded as low as $11.60 and last traded at $11.96, with a volume of 278331 shares traded. The stock had previously closed at $12.14.

Other analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of Invesco from $18.50 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Argus lifted their target price on shares of Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada started coverage on Invesco in a report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price target on the stock. Bank of America cut their price objective on Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lowered their target price on Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.57.

Institutional Trading of Invesco

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new stake in Invesco in the 1st quarter worth $710,000. Whipplewood Advisors LLC boosted its stake in shares of Invesco by 24,803.3% in the first quarter. Whipplewood Advisors LLC now owns 59,519 shares of the asset manager’s stock worth $903,000 after acquiring an additional 59,280 shares during the period. Merit Financial Group LLC boosted its stake in shares of Invesco by 40.8% in the first quarter. Merit Financial Group LLC now owns 52,482 shares of the asset manager’s stock worth $796,000 after acquiring an additional 15,201 shares during the period. NBC Securities Inc. grew its position in shares of Invesco by 95,882.4% during the first quarter. NBC Securities Inc. now owns 16,317 shares of the asset manager’s stock worth $247,000 after purchasing an additional 16,300 shares in the last quarter. Finally, Czech National Bank raised its stake in Invesco by 5.6% during the 1st quarter. Czech National Bank now owns 102,898 shares of the asset manager’s stock valued at $1,561,000 after purchasing an additional 5,450 shares during the period. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Trading Down 7.3 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The company has a market capitalization of $5.66 billion, a PE ratio of 10.73, a PEG ratio of 0.98 and a beta of 1.26. The stock has a fifty day moving average of $16.12 and a 200 day moving average of $17.18.

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

Invesco Announces Dividend

The business 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 annualized dividend and a dividend yield of 6.48%. The ex-dividend date was Friday, February 14th. Invesco’s dividend payout ratio (DPR) is presently 69.49%.

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.