Invesco (NYSE:IVZ) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Invesco (NYSE:IVZ) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Several other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft raised Invesco from a “hold” rating to a “buy” rating and raised their target price for the stock from $26.00 to $31.00 in a research report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Invesco in a research note on Monday, December 29th. Fundamental Research set a $27.00 price target on shares of Invesco in a research report on Friday, October 31st. Royal Bank Of Canada decreased their price objective on Invesco from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, January 28th. Finally, Wall Street Zen lowered Invesco from a “buy” rating to a “hold” rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.46.

Invesco Stock Performance

NYSE:IVZ opened at $26.26 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.23 and a current ratio of 1.38. The firm’s 50-day moving average is $27.35 and its 200-day moving average is $24.72. Invesco has a 52-week low of $11.60 and a 52-week high of $29.61. The company has a market cap of $11.69 billion, a price-to-earnings ratio of -16.41, a PEG ratio of 0.47 and a beta of 1.69.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, January 27th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Invesco had a positive return on equity of 10.26% and a negative net margin of 6.92%.The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Invesco will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Friday, February 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Invesco’s payout ratio is currently -52.50%.

Institutional Investors Weigh In On Invesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Invesco by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 52,965,761 shares of the asset manager’s stock worth $1,391,411,000 after purchasing an additional 947,693 shares in the last quarter. State Street Corp lifted its holdings in Invesco by 1.5% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in Invesco by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,330,647 shares of the asset manager’s stock valued at $489,325,000 after buying an additional 319,104 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Invesco by 5.3% in the 2nd quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager’s stock valued at $182,491,000 after buying an additional 584,035 shares during the period. Finally, Geode Capital Management LLC raised its position 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 worth $174,816,000 after acquiring an additional 88,094 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.