Invesco (NYSE:IVZ) Upgraded at Zacks Research

Zacks Research upgraded shares of Invesco (NYSE:IVZ) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other brokerages have also commented on IVZ. Evercore ISI boosted their price target on Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Royal Bank Of Canada dropped their target price on shares of Invesco from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on Invesco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. BMO Capital Markets boosted their price target on shares of Invesco from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen upgraded Invesco from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.93.

Invesco Price Performance

Shares of IVZ stock opened at $27.27 on Wednesday. The stock has a 50 day moving average of $26.95 and a two-hundred day moving average of $23.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $12.14 billion, a P/E ratio of -17.04, a P/E/G ratio of 0.50 and a beta of 1.65. Invesco has a 12 month low of $11.60 and a 12 month high of $29.61.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 27th. The asset manager reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. Invesco had a negative net margin of 6.92% and a positive return on equity of 9.69%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts expect that Invesco will post 1.87 EPS for the current year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Friday, February 13th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.1%. Invesco’s dividend payout ratio is -52.50%.

Hedge Funds Weigh In On Invesco

A number of large investors have recently modified their holdings of IVZ. KLP Kapitalforvaltning AS increased its position in shares of Invesco by 46.1% during the second quarter. KLP Kapitalforvaltning AS now owns 96,300 shares of the asset manager’s stock worth $1,519,000 after buying an additional 30,400 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Invesco by 177.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 27,841 shares of the asset manager’s stock valued at $639,000 after buying an additional 17,798 shares during the period. Aviance Capital Partners LLC acquired a new stake in Invesco in the third quarter valued at approximately $1,013,000. First Trust Advisors LP increased its stake in Invesco by 5,065.4% during the 2nd quarter. First Trust Advisors LP now owns 3,380,933 shares of the asset manager’s stock valued at $53,317,000 after purchasing an additional 3,315,480 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Invesco by 729.1% in the 2nd quarter. Asset Management One Co. Ltd. now owns 108,246 shares of the asset manager’s stock worth $1,707,000 after acquiring an additional 95,190 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.