Invesco Ltd. (NYSE:IVZ) Receives Average Rating of “Hold” from Brokerages

Invesco Ltd. (NYSE:IVZ) has received a consensus rating of “Hold” from the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.4063.

A number of equities research analysts recently weighed in on IVZ shares. Evercore ISI raised their price objective on Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Royal Bank Of Canada increased their price target on shares of Invesco from $23.00 to $25.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. Barclays raised their price target on shares of Invesco from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Morgan Stanley reaffirmed a “positive” rating on shares of Invesco in a research report on Monday, October 6th. Finally, Bank of America increased their target price on shares of Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd.

Insiders Place Their Bets

In other news, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas J. Sharp sold 160,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $23.56, for a total value of $3,769,600.00. Following the transaction, the director owned 192 shares in the company, valued at approximately $4,523.52. This trade represents a 99.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Invesco

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Invesco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 52,018,068 shares of the asset manager’s stock worth $1,193,294,000 after purchasing an additional 593,140 shares in the last quarter. State Street Corp raised its holdings in shares of Invesco by 1.5% in the second quarter. State Street Corp now owns 22,260,704 shares of the asset manager’s stock worth $351,051,000 after buying an additional 332,340 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Invesco by 5.3% during the second quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager’s stock worth $182,491,000 after buying an additional 584,035 shares during the period. Geode Capital Management LLC grew its holdings in shares of Invesco by 0.8% during the second quarter. Geode Capital Management LLC now owns 11,107,421 shares of the asset manager’s stock valued at $174,816,000 after buying an additional 88,094 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Invesco by 13.4% in the 2nd quarter. Alliancebernstein L.P. now owns 7,924,717 shares of the asset manager’s stock valued at $124,973,000 after acquiring an additional 939,365 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Stock Performance

Shares of NYSE:IVZ opened at $23.37 on Monday. The firm has a 50 day moving average of $22.91 and a 200 day moving average of $19.22. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.72. Invesco has a 52 week low of $11.60 and a 52 week high of $24.75.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a return on equity of 8.52% and a net margin of 14.15%.The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Invesco will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.6%. Invesco’s dividend payout ratio is presently 57.14%.

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.