The Goldman Sachs Group Cuts Invesco (NYSE:IVZ) Price Target to $19.00

Invesco (NYSE:IVZ) had its price target reduced by The Goldman Sachs Group from $19.25 to $19.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other equities analysts have also issued reports on IVZ. Keefe, Bruyette & Woods dropped their target price on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, December 20th. Barclays 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 Wednesday, October 23rd. Evercore ISI lifted their price target on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, 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 Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.83.

Invesco Price Performance

IVZ stock opened at $17.12 on Tuesday. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of -18.61, a PEG ratio of 1.05 and a beta of 1.43. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94. The company’s fifty day simple moving average is $17.77 and its 200 day simple moving average is $17.05.

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, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. Invesco’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, analysts expect that Invesco will post 1.7 earnings per share for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th were given a $0.205 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.79%. Invesco’s dividend payout ratio is -89.13%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Avior Wealth Management LLC lifted its position in Invesco by 484.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 1,285 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Invesco during the 3rd quarter valued at about $35,000. Sentry Investment Management LLC bought a new stake in Invesco during the 2nd quarter valued at about $30,000. Allworth Financial LP increased its stake in Invesco by 304.0% during 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. Finally, HHM Wealth Advisors LLC bought a new stake in Invesco during the 2nd quarter valued at about $61,000. 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.