Invesco (NYSE:IVZ) Shares Gap Down Following Weak Earnings

Invesco Ltd. (NYSE:IVZ)’s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $15.58, but opened at $14.64. Invesco shares last traded at $14.89, with a volume of 1,783,750 shares trading hands.

The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. Invesco’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be issued a $0.205 dividend. This is a positive change from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, May 13th. This represents a $0.82 annualized dividend and a dividend yield of 5.65%. Invesco’s dividend payout ratio is -106.67%.

Wall Street Analyst Weigh In

IVZ has been the topic of several research reports. Royal Bank of Canada boosted their price target on shares of Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 18th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $17.00 target price (down from $19.00) on shares of Invesco in a report on Wednesday. BMO Capital Markets restated a “market perform” rating and issued a $17.00 price target (down previously from $18.00) on shares of Invesco in a research report on Wednesday. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Invesco presently has an average rating of “Hold” and a consensus target price of $16.79.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Gables Capital Management Inc. increased its position in Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after acquiring an additional 700 shares during the period. Orion Capital Management LLC bought a new position in Invesco during the third quarter valued at about $25,000. Pinnacle Bancorp Inc. raised its holdings in Invesco by 100.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. Quarry LP bought a new stake in shares of Invesco in the 4th quarter worth approximately $37,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $32,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Trading Down 0.4 %

The business has a 50-day moving average price of $15.73 and a 200-day moving average price of $15.44. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.54.

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.