Invesco (NYSE:IVZ) Price Target Raised to $30.00 at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price target boosted by The Goldman Sachs Group from $29.50 to $30.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

IVZ has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upgraded shares of Invesco from a “hold” rating to a “buy” rating and raised their price objective for the stock from $26.00 to $31.00 in a report on Wednesday, December 17th. TD Cowen set a $34.50 price objective on Invesco in a report on Wednesday, January 28th. Wall Street Zen raised Invesco from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Zacks Research raised shares of Invesco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, Barclays reduced their target price on shares of Invesco from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.46.

Invesco Stock Down 0.8%

Shares of NYSE IVZ opened at $26.22 on Thursday. The firm’s 50 day simple moving average is $27.35 and its two-hundred day simple moving average is $24.29. Invesco has a one year low of $11.60 and a one year high of $29.61. The stock has a market capitalization of $11.67 billion, a P/E ratio of -16.39, a PEG ratio of 0.48 and a beta of 1.69. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.23 and a quick ratio of 1.23.

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

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders 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 dividend yield of 3.2%. Invesco’s dividend payout ratio (DPR) is -52.50%.

Hedge Funds Weigh In On Invesco

A number of hedge funds and other institutional investors have recently made changes to their positions in IVZ. Convergence Investment Partners LLC purchased a new position in Invesco during the 3rd quarter worth approximately $3,021,000. Jackson Creek Investment Advisors LLC acquired a new position in shares of Invesco in the 3rd quarter valued at $1,130,000. Thrivent Financial for Lutherans increased its holdings in Invesco by 83.5% in the third quarter. Thrivent Financial for Lutherans now owns 631,046 shares of the asset manager’s stock valued at $14,476,000 after buying an additional 287,219 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Invesco by 177.2% in the third quarter. Sequoia Financial Advisors LLC now owns 27,841 shares of the asset manager’s stock worth $639,000 after acquiring an additional 17,798 shares during the period. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Invesco during the 3rd quarter worth about $502,000. Institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

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.