Invesco (NYSE:IVZ) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Invesco (NYSE:IVZ) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Barclays raised their price target on Invesco from $17.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 23rd. Zacks Research raised Invesco to a “hold” rating in a research note on Tuesday, August 12th. Morgan Stanley raised their price target on Invesco from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company raised Invesco from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $14.50 to $18.00 in a report on Friday, July 11th. Finally, Cowen reissued a “buy” rating on shares of Invesco in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.92.

Invesco Stock Up 1.9%

IVZ opened at $24.05 on Thursday. Invesco has a fifty-two week low of $11.60 and a fifty-two week high of $24.21. The business has a 50-day moving average of $21.84 and a 200-day moving average of $17.50. 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 company has a market capitalization of $10.72 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66.

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

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. Invesco’s dividend payout ratio (DPR) is 90.32%.

Insider Transactions at Invesco

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the sale, the director owned 29,855 shares of the company’s stock, valued at $660,392.60. This trade represents a 77.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.21% of the stock is owned by company insiders.

Institutional Trading of Invesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in shares of Invesco by 99.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock worth $106,598,000 after acquiring an additional 3,507,150 shares during the period. First Trust Advisors LP lifted its position in shares of Invesco by 5,065.4% in the 2nd quarter. First Trust Advisors LP now owns 3,380,933 shares of the asset manager’s stock worth $53,317,000 after acquiring an additional 3,315,480 shares during the period. Norges Bank bought a new stake in shares of Invesco in the 2nd quarter worth approximately $51,838,000. AQR Capital Management LLC lifted its position in shares of Invesco by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock worth $165,262,000 after acquiring an additional 2,882,928 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Invesco in the 1st quarter worth approximately $29,138,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Company Profile

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.