Morgan Stanley Trims Invesco (NYSE:IVZ) Target Price to $26.00

Invesco (NYSE:IVZGet Rating) had its target price trimmed by Morgan Stanley from $27.00 to $26.00 in a research report released on Friday, The Fly reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other research firms have also recently commented on IVZ. The Goldman Sachs Group increased their price target on Invesco from $23.00 to $24.50 and gave the company a neutral rating in a research note on Thursday, March 31st. StockNews.com initiated coverage on Invesco in a research note on Thursday, March 31st. They issued a hold rating for the company. Citigroup cut their price objective on Invesco from $33.00 to $32.00 and set a buy rating on the stock in a report on Wednesday, January 26th. Royal Bank of Canada cut their price objective on Invesco from $26.00 to $23.00 in a report on Tuesday, January 25th. Finally, Evercore ISI cut their price objective on Invesco from $28.00 to $25.00 and set an inline rating on the stock in a report on Wednesday, January 26th. Six research analysts have rated the stock with a hold rating and four have assigned 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 target price of $28.05.

Shares of NYSE IVZ opened at $21.61 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.79 and a quick ratio of 3.79. The stock has a market capitalization of $9.96 billion, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 0.81 and a beta of 1.18. Invesco has a 1-year low of $18.42 and a 1-year high of $29.71. The business has a fifty day moving average price of $21.75 and a 200 day moving average price of $23.29.

Invesco (NYSE:IVZGet Rating) last released its quarterly earnings results on Tuesday, January 25th. The asset manager reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Invesco had a return on equity of 14.48% and a net margin of 23.64%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business posted $0.72 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Invesco will post 2.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 2nd. Shareholders of record on Wednesday, February 16th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, February 15th. This represents a $0.68 dividend on an annualized basis and a yield of 3.15%. Invesco’s dividend payout ratio is currently 22.67%.

In related news, CEO Martin L. Flanagan sold 189,708 shares of Invesco stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $19.51, for a total transaction of $3,701,203.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Trian Fund Management, L.P. acquired 250,062 shares of Invesco stock in a transaction that occurred on Monday, April 4th. The shares were bought at an average price of $23.46 per share, for a total transaction of $5,866,454.52. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 8,455,690 shares of company stock worth $181,071,234. Company insiders own 1.94% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Cinctive Capital Management LP purchased a new position in Invesco during the third quarter worth approximately $5,531,000. Illinois Municipal Retirement Fund lifted its position in Invesco by 25.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 85,698 shares of the asset manager’s stock worth $1,973,000 after buying an additional 17,499 shares in the last quarter. Proffitt & Goodson Inc. purchased a new position in Invesco during the third quarter worth approximately $528,000. Cetera Advisors LLC lifted its position in Invesco by 65.1% during the third quarter. Cetera Advisors LLC now owns 42,525 shares of the asset manager’s stock worth $1,025,000 after buying an additional 16,762 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its stake in Invesco by 6.8% during the third quarter. First Republic Investment Management Inc. now owns 148,002 shares of the asset manager’s stock worth $3,568,000 after acquiring an additional 9,364 shares during the last quarter. Hedge funds and other institutional investors own 63.62% of the company’s stock.

Invesco Company Profile (Get Rating)

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.

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