Invesco (NYSE:IVZ) Sets New 52-Week High on Analyst Upgrade

Invesco Ltd. (NYSE:IVZ)’s stock price reached a new 52-week high on Monday after Morgan Stanley raised their price target on the stock from $24.00 to $26.00. Morgan Stanley currently has an equal weight rating on the stock. Invesco traded as high as $24.33 and last traded at $24.29, with a volume of 557506 shares. The stock had previously closed at $24.04.

A number of other analysts have also weighed in on the stock. Evercore ISI reaffirmed a “positive” rating on shares of Invesco in a research note on Friday, September 5th. Cowen reaffirmed a “buy” rating on shares of Invesco in a research note on Thursday, September 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Invesco in a report on Saturday, September 27th. Barclays boosted their target price on shares of Invesco from $17.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company upgraded shares of Invesco from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $14.50 to $18.00 in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.58.

Insider Activity at Invesco

In related news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Invesco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Aaron Wealth Advisors LLC purchased a new position in shares of Invesco in the 3rd quarter valued at approximately $326,000. GAMMA Investing LLC boosted its position in Invesco by 11.0% in the third quarter. GAMMA Investing LLC now owns 32,836 shares of the asset manager’s stock valued at $753,000 after buying an additional 3,247 shares during the last quarter. Corient Private Wealth LLC boosted its position in Invesco by 51.5% in the second quarter. Corient Private Wealth LLC now owns 52,863 shares of the asset manager’s stock valued at $834,000 after buying an additional 17,981 shares during the last quarter. Capital A Wealth Management LLC boosted its position in Invesco by 4,802.9% in the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock valued at $26,000 after buying an additional 1,633 shares during the last quarter. Finally, CacheTech Inc. purchased a new stake in Invesco in the second quarter valued at approximately $293,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Trading Up 0.3%

The stock has a 50-day moving average of $21.89 and a 200 day moving average of $17.57. The stock has a market cap of $10.76 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.66. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.88.

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

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were given a $0.21 dividend. The ex-dividend date 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 is currently 90.32%.

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.