Invesco (NYSE:IVZ) Hits New 52-Week Low After Analyst Downgrade

Invesco Ltd. (NYSE:IVZ)’s share price reached a new 52-week low during trading on Wednesday after TD Cowen downgraded the stock from a buy rating to a hold rating. TD Cowen now has a $13.00 price target on the stock, down from their previous price target of $22.00. Invesco traded as low as $11.60 and last traded at $11.96, with a volume of 278331 shares. The stock had previously closed at $12.14.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada began coverage on shares of Invesco in a research note on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a research report on Tuesday. Citigroup dropped their target price on Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. reduced their price target on Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group lowered their price objective on Invesco from $18.50 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Invesco has a consensus rating of “Hold” and a consensus price target of $18.57.

Institutional Trading of Invesco

Several institutional investors have recently added to or reduced their stakes in IVZ. D.A. Davidson & CO. boosted its holdings in shares of Invesco by 1.5% in the 4th quarter. D.A. Davidson & CO. now owns 46,707 shares of the asset manager’s stock valued at $816,000 after buying an additional 677 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Invesco by 6.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 11,133 shares of the asset manager’s stock worth $195,000 after purchasing an additional 710 shares during the period. True Wealth Design LLC boosted its position in Invesco by 18.3% during the 4th quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager’s stock valued at $91,000 after purchasing an additional 801 shares during the period. Arizona State Retirement System increased its position in Invesco by 0.8% in the fourth quarter. Arizona State Retirement System now owns 97,956 shares of the asset manager’s stock worth $1,712,000 after buying an additional 812 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Invesco by 0.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 153,250 shares of the asset manager’s stock valued at $2,677,000 after buying an additional 835 shares during the last quarter. Institutional investors own 66.09% of the company’s stock.

Invesco Trading Up 12.5 %

The firm’s fifty day moving average price is $16.24 and its 200-day moving average price is $17.22. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 0.98 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. On average, equities analysts expect that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Friday, February 14th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend was Friday, February 14th. Invesco’s payout ratio is currently 69.49%.

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.