Invesco (NYSE:IVZ) Price Target Lowered to $17.00 at Wells Fargo & Company

Invesco (NYSE:IVZ) had its target price trimmed by Wells Fargo & Company from $17.50 to $17.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an underweight rating on the asset manager’s stock.

Several other research firms also recently issued reports on IVZ. Morgan Stanley upped their price objective on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. The Goldman Sachs Group decreased their price target on shares of Invesco from $19.25 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, December 20th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Evercore ISI increased their price target on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.79.

Invesco Stock Performance

Shares of Invesco stock opened at $16.58 on Tuesday. Invesco has a one year low of $14.16 and a one year high of $18.94. The company has a market capitalization of $7.45 billion, a PE ratio of -18.02, a P/E/G ratio of 1.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91. The company has a 50-day simple moving average of $17.73 and a two-hundred day simple moving average of $17.10.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. Invesco’s revenue was down 20.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. Research analysts expect that Invesco will post 1.7 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is presently -89.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IVZ. Fisher Asset Management LLC boosted its stake in shares of Invesco by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock worth $79,738,000 after acquiring an additional 87,405 shares in the last quarter. Marshall Wace LLP boosted its position in Invesco by 115.7% during the second quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock worth $18,269,000 after purchasing an additional 654,960 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Invesco in the second quarter valued at approximately $576,000. Massachusetts Mutual Life Insurance Co. purchased a new stake in shares of Invesco in the third quarter valued at approximately $1,428,196,000. Finally, Algert Global LLC purchased a new stake in shares of Invesco in the second quarter valued at approximately $551,000. Hedge funds and other 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.