Invesco (NYSE:IVZ) Given New $19.00 Price Target at UBS Group

Invesco (NYSE:IVZ) had its price target raised by UBS Group from $17.50 to $19.00 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

A number of other analysts also recently commented on the company. Evercore ISI upped their price objective on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price target on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price objective on Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group increased their target price on shares of Invesco from $17.25 to $17.50 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price target 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. One research 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.38.

Invesco Stock Up 0.1 %

Shares of NYSE:IVZ opened at $17.63 on Tuesday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of -19.16, a PEG ratio of 1.04 and a beta of 1.44. The stock’s 50-day moving average price is $17.15 and its two-hundred day moving average price is $16.11. Invesco has a 12-month low of $12.61 and a 12-month high of $18.79.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.01%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company earned $0.35 earnings per share. The company’s quarterly revenue was down 20.8% on a year-over-year basis. On average, research analysts forecast that Invesco will post 1.67 EPS for the current year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.65%. The ex-dividend date is Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is -89.13%.

Hedge Funds Weigh In On Invesco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in shares of Invesco in the second quarter worth about $28,000. Sentry Investment Management LLC purchased a new stake in Invesco during the 2nd quarter worth approximately $30,000. Allworth Financial LP raised its position in shares of Invesco by 304.0% in the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 1,806 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Invesco during the 1st quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of Invesco by 50.0% during the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after buying an additional 1,210 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

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.