Invesco (NYSE:IVZ) Given New $30.00 Price Target at BMO Capital Markets

Invesco (NYSE:IVZ) had its price objective hoisted by BMO Capital Markets from $28.00 to $30.00 in a research report released on Wednesday, Marketbeat reports. BMO Capital Markets currently has an outperform rating on the asset manager’s stock.

A number of other analysts also recently issued reports on IVZ. Evercore ISI lifted their target price on Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Zacks Research lowered Invesco from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Bank of America increased their price objective on Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. The Goldman Sachs Group decreased their target price on shares of Invesco from $26.50 to $25.50 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Finally, Fundamental Research set a $27.00 price target on shares of Invesco in a research note on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Invesco currently has a consensus rating of “Hold” and an average target price of $23.77.

Invesco Trading Up 1.4%

NYSE IVZ opened at $26.91 on Wednesday. Invesco has a 52 week low of $11.60 and a 52 week high of $27.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s 50 day moving average price is $23.82 and its two-hundred day moving average price is $20.74. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 0.69 and a beta of 1.66.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, topping the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 9.11%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, analysts anticipate that Invesco will post 1.87 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, November 14th. Invesco’s dividend payout ratio is currently 57.14%.

Insiders Place Their Bets

In other news, Director Douglas J. Sharp sold 160,000 shares of Invesco stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $23.56, for a total value of $3,769,600.00. Following the completion of the sale, the director directly owned 192 shares in the company, valued at approximately $4,523.52. The trade was a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Invesco

Several hedge funds have recently bought and sold shares of IVZ. Parallel Advisors LLC boosted its position in shares of Invesco by 18.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,031 shares of the asset manager’s stock worth $70,000 after acquiring an additional 472 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in Invesco by 0.6% during the third quarter. Wealthfront Advisers LLC now owns 85,723 shares of the asset manager’s stock worth $1,966,000 after purchasing an additional 474 shares during the last quarter. CI Investments Inc. lifted its stake in Invesco by 21.5% during the third quarter. CI Investments Inc. now owns 2,780 shares of the asset manager’s stock worth $64,000 after purchasing an additional 491 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Invesco by 4.1% in the 3rd quarter. US Bancorp DE now owns 12,879 shares of the asset manager’s stock valued at $295,000 after purchasing an additional 510 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in shares of Invesco by 2.1% in the 3rd quarter. Norinchukin Bank The now owns 26,249 shares of the asset manager’s stock valued at $602,000 after purchasing an additional 544 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

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.