The Goldman Sachs Group Raises Invesco (NYSE:IVZ) Price Target to $19.50

Invesco (NYSE:IVZ) had its price target upped by The Goldman Sachs Group from $17.50 to $19.50 in a research report report published on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

A number of other brokerages have also weighed in on IVZ. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Barclays upped their target price on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their price target on Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Finally, Evercore ISI increased their price objective on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Invesco presently has a consensus rating of “Hold” and an average target price of $18.38.

Invesco Trading Up 0.1 %

NYSE IVZ opened at $17.63 on Wednesday. The stock has a market cap of $7.93 billion, a P/E ratio of -19.16, a price-to-earnings-growth ratio of 1.04 and a beta of 1.44. Invesco has a fifty-two week low of $12.61 and a fifty-two week high of $18.79. The stock has a 50 day simple moving average of $17.15 and a two-hundred day simple moving average of $16.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.80 and a current ratio of 5.80.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.01% and a negative net margin of 3.00%. The firm’s revenue was down 20.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. On average, analysts forecast that Invesco will post 1.67 earnings per share for the current year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.205 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a yield of 4.65%. Invesco’s dividend payout ratio is currently -89.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC raised its holdings in Invesco by 9.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 38,284 shares of the asset manager’s stock worth $635,000 after acquiring an additional 3,327 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Invesco by 53.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 54,426 shares of the asset manager’s stock worth $903,000 after purchasing an additional 18,942 shares in the last quarter. Aviance Capital Partners LLC raised its stake in shares of Invesco by 2.9% in the first quarter. Aviance Capital Partners LLC now owns 64,931 shares of the asset manager’s stock worth $1,077,000 after purchasing an additional 1,829 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Invesco during the first quarter valued at $169,000. Finally, Norden Group LLC purchased a new stake in shares of Invesco during the first quarter valued at $450,000. Institutional investors own 66.09% of the company’s stock.

About Invesco

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.