Invesco Ltd. (NYSE:IVZ) Given Average Recommendation of “Hold” by Analysts

Invesco Ltd. (NYSE:IVZ) has earned an average rating of “Hold” from the thirteen analysts that are covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.20.

Several research firms have recently commented on IVZ. The Goldman Sachs Group reduced their price target on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Royal Bank of Canada increased their target price on Invesco from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. StockNews.com lowered Invesco from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. Evercore ISI raised their price objective on Invesco from $17.00 to $18.00 and gave the company an “in-line” rating in a research report on Tuesday, August 20th. Finally, Barclays started coverage on shares of Invesco in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 target price for the company.

Invesco Stock Down 0.4 %

Shares of NYSE:IVZ opened at $15.87 on Wednesday. The business’s 50 day moving average is $16.33 and its 200 day moving average is $15.77. The stock has a market cap of $7.14 billion, a P/E ratio of -21.15, a price-to-earnings-growth ratio of 1.08 and a beta of 1.44. Invesco has a 52-week low of $12.48 and a 52-week high of $18.28. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 EPS. Sell-side analysts predict that Invesco will post 1.65 EPS for the current year.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend was Friday, August 16th. Invesco’s dividend payout ratio is presently -109.33%.

Institutional Investors Weigh In On Invesco

Large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of Invesco during the second quarter worth about $164,000. Truist Financial Corp boosted its stake in shares of Invesco by 48.5% in the second quarter. Truist Financial Corp now owns 208,993 shares of the asset manager’s stock worth $3,127,000 after buying an additional 68,221 shares during the last quarter. Quarry LP grew its holdings in Invesco by 804.5% during the second quarter. Quarry LP now owns 13,902 shares of the asset manager’s stock worth $208,000 after acquiring an additional 12,365 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Invesco by 1.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after acquiring an additional 946 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Invesco during the 2nd quarter worth approximately $551,000. 66.09% of the stock is owned by hedge funds and other 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.