Invesco Ltd. (NYSE:IVZ – Get Rating) – Research analysts at Jefferies Financial Group boosted their Q2 2022 EPS estimates for Invesco in a report released on Monday, April 11th. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will earn $0.69 per share for the quarter, up from their prior forecast of $0.68. Jefferies Financial Group also issued estimates for Invesco’s Q3 2022 earnings at $0.71 EPS and Q4 2022 earnings at $0.75 EPS.
A number of other brokerages also recently issued reports on IVZ. Morgan Stanley lowered their price target on Invesco from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, April 8th. Citigroup lowered their price target on Invesco from $32.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday. BMO Capital Markets lowered their price target on Invesco from $33.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, January 26th. Deutsche Bank Aktiengesellschaft lowered their price target on Invesco from $32.00 to $26.00 in a report on Thursday, April 7th. Finally, Keefe, Bruyette & Woods downgraded Invesco from an “outperform” rating to a “market perform” rating and set a $25.00 price objective for the company. in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.29.
Invesco (NYSE:IVZ – Get Rating) last announced its quarterly earnings data on Tuesday, January 25th. The asset manager reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.10. Invesco had a return on equity of 14.48% and a net margin of 23.64%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in the business. Keybank National Association OH raised its position in Invesco by 4.3% in the third quarter. Keybank National Association OH now owns 10,655 shares of the asset manager’s stock worth $257,000 after acquiring an additional 441 shares in the last quarter. Eaton Vance Management increased its position in shares of Invesco by 0.6% in the fourth quarter. Eaton Vance Management now owns 73,168 shares of the asset manager’s stock valued at $1,243,000 after buying an additional 452 shares in the last quarter. Balasa Dinverno & Foltz LLC increased its position in shares of Invesco by 5.7% in the fourth quarter. Balasa Dinverno & Foltz LLC now owns 9,243 shares of the asset manager’s stock valued at $213,000 after buying an additional 498 shares in the last quarter. MCF Advisors LLC increased its position in shares of Invesco by 69.9% in the fourth quarter. MCF Advisors LLC now owns 1,252 shares of the asset manager’s stock valued at $29,000 after buying an additional 515 shares in the last quarter. Finally, Estate Counselors LLC increased its position in shares of Invesco by 1.2% in the third quarter. Estate Counselors LLC now owns 43,645 shares of the asset manager’s stock valued at $1,052,000 after buying an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 63.62% of the company’s stock.
In related news, major shareholder Trian Fund Management, L.P. purchased 1,026,508 shares of the business’s stock in a transaction dated Wednesday, March 23rd. The stock was acquired at an average price of $21.52 per share, for a total transaction of $22,090,452.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Martin L. Flanagan sold 189,708 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $19.51, for a total value of $3,701,203.08. The disclosure for this sale can be found here. Insiders have bought 8,455,690 shares of company stock valued at $181,071,234 in the last 90 days. Company insiders own 1.94% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 2nd. Stockholders of record on Wednesday, February 16th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Tuesday, February 15th. Invesco’s dividend payout ratio (DPR) is presently 22.67%.
About Invesco (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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