Invesco (NYSE:IVZ) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Invesco (NYSE:IVZ) from a hold rating to a sell rating in a research report report published on Thursday morning.

IVZ has been the topic of several other research reports. The Goldman Sachs Group dropped their target price on Invesco from $17.50 to $17.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods reissued a market perform rating and issued a $17.00 target price (down previously from $19.00) on shares of Invesco in a report on Wednesday, April 24th. BMO Capital Markets reaffirmed a market perform rating and set a $17.00 price target (down from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. Morgan Stanley raised their price objective on shares of Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Invesco from $17.00 to $16.50 and set a neutral rating on the stock in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $16.81.

Invesco Price Performance

NYSE:IVZ opened at $15.99 on Thursday. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average price is $15.30 and its 200 day moving average price is $15.81. Invesco has a 1-year low of $12.48 and a 1-year high of $18.71.

Invesco (NYSE:IVZ) last released its 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 positive return on equity of 7.84% and a negative net margin of 1.74%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Invesco will post 1.65 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Monday, May 13th. This is a boost from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio is -109.33%.

Hedge Funds Weigh In On Invesco

A number of institutional investors have recently made changes to their positions in IVZ. BDF Gestion purchased a new stake in shares of Invesco during the second quarter worth about $452,000. CWM LLC boosted its holdings in shares of Invesco by 37.4% during the second quarter. CWM LLC now owns 14,198 shares of the asset manager’s stock worth $212,000 after purchasing an additional 3,863 shares during the last quarter. Mather Group LLC. increased its stake in Invesco by 10.7% in the second quarter. Mather Group LLC. now owns 26,001 shares of the asset manager’s stock valued at $431,000 after purchasing an additional 2,519 shares during the last quarter. GAMMA Investing LLC grew its holdings in Invesco by 208.7% in the 2nd quarter. GAMMA Investing LLC now owns 14,804 shares of the asset manager’s stock valued at $221,000 after buying an additional 10,008 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after acquiring an additional 1,210 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

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.