Invesco (NYSE:IVZ) Price Target Raised to $20.00 at Evercore ISI

Invesco (NYSE:IVZ) had its price target upped by Evercore ISI from $19.00 to $20.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an in-line rating on the asset manager’s stock.

A number of other equities analysts have also recently commented on the company. UBS Group lifted their price target on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Invesco has a consensus rating of “Hold” and an average target price of $18.46.

Invesco Stock Down 1.6 %

IVZ stock traded down $0.30 during mid-day trading on Thursday, reaching $17.98. The company had a trading volume of 2,942,461 shares, compared to its average volume of 4,031,605. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of -19.54, a PEG ratio of 1.06 and a beta of 1.44. Invesco has a 52 week low of $12.68 and a 52 week high of $18.94. The stock has a 50 day simple moving average of $17.34 and a two-hundred day simple moving average of $16.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was down 20.8% on a year-over-year basis. As a group, equities analysts predict that Invesco will post 1.69 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.205 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.56%. Invesco’s dividend payout ratio is presently -89.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IVZ. Avior Wealth Management LLC boosted its stake in Invesco by 484.9% in the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after buying an additional 1,285 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Invesco during the second quarter worth $28,000. Sentry Investment Management LLC bought a new position in shares of Invesco in the 2nd quarter valued at $30,000. Allworth Financial LP boosted its holdings in shares of Invesco by 304.0% during the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 1,806 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its holdings in Invesco by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after purchasing an additional 1,210 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.