Invesco (NYSE:IVZ) Sets New 12-Month High After Analyst Upgrade

Invesco Ltd. (NYSE:IVZ) shares reached a new 52-week high during mid-day trading on Friday after Evercore ISI raised their price target on the stock from $23.00 to $24.00. Evercore ISI currently has an in-line rating on the stock. Invesco traded as high as $22.25 and last traded at $21.95, with a volume of 311920 shares trading hands. The stock had previously closed at $21.96.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group raised their target price on Invesco from $16.25 to $16.75 and gave the company a “neutral” rating in a report on Friday, June 27th. Morgan Stanley raised their target price on Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, July 2nd. Wells Fargo & Company upgraded Invesco from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $14.50 to $18.00 in a report on Friday, July 11th. Zacks Research upgraded Invesco to a “hold” rating in a report on Tuesday, August 12th. Finally, Barclays raised their target price on Invesco from $17.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.38.

Hedge Funds Weigh In On Invesco

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Invesco by 99.6% during the first quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock valued at $106,598,000 after acquiring an additional 3,507,150 shares during the period. First Trust Advisors LP increased its stake in Invesco by 5,065.4% during the second quarter. First Trust Advisors LP now owns 3,380,933 shares of the asset manager’s stock valued at $53,317,000 after acquiring an additional 3,315,480 shares during the period. Norges Bank bought a new position in Invesco during the second quarter valued at about $51,838,000. AQR Capital Management LLC increased its stake in Invesco by 35.4% during the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock valued at $165,262,000 after acquiring an additional 2,882,928 shares during the period. Finally, Nuveen LLC bought a new position in Invesco during the first quarter valued at about $29,138,000. 66.09% of the stock is currently owned by institutional investors.

Invesco Stock Up 0.1%

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $9.80 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. The firm has a 50 day moving average of $20.03 and a 200-day moving average of $16.62.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). Invesco had a net margin of 10.68% and a return on equity of 8.60%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. Invesco’s payout ratio is presently 90.32%.

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.