Barclays Issues Positive Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price objective increased by Barclays from $14.00 to $15.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Several other brokerages have also recently issued reports on IVZ. TD Cowen downgraded Invesco from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $13.00 in a report on Wednesday, April 9th. Bank of America decreased their price objective on shares of Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group upped their price objective on shares of Invesco from $15.00 to $15.25 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Citigroup lowered their price target on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.32.

Invesco Stock Up 2.0%

IVZ stock opened at $14.68 on Monday. The stock has a market capitalization of $6.57 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.49. Invesco has a 52 week low of $11.60 and a 52 week high of $19.55. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $14.03 and a 200 day moving average of $16.15.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a net margin of 12.77% and a return on equity of 8.18%. During the same period in the previous year, the firm posted $0.33 earnings per share. Sell-side analysts forecast that Invesco will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were paid a $0.21 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.72%. This is a boost from Invesco’s previous quarterly dividend of $0.21. Invesco’s dividend payout ratio (DPR) is currently 67.20%.

Hedge Funds Weigh In On Invesco

A number of large investors have recently added to or reduced their stakes in the stock. Invst LLC purchased a new stake in shares of Invesco during the first quarter worth about $729,000. Strs Ohio acquired a new stake in Invesco in the 1st quarter worth about $1,885,000. Bayforest Capital Ltd purchased a new stake in Invesco during the 1st quarter worth approximately $98,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Invesco by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,046,667 shares of the asset manager’s stock worth $15,878,000 after buying an additional 12,685 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Invesco by 40.2% during the first quarter. Woodline Partners LP now owns 37,850 shares of the asset manager’s stock valued at $574,000 after acquiring an additional 10,859 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.