Invesco (NYSE:IVZ) Price Target Increased to $17.50 by Analysts at Wells Fargo & Company

Invesco (NYSE:IVZ) had its target price upped by Wells Fargo & Company from $16.50 to $17.50 in a report released on Wednesday morning, Benzinga reports. The firm currently has an underweight rating on the asset manager’s stock.

IVZ has been the subject of several other research reports. UBS Group lifted their price objective on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Evercore ISI boosted their target price on shares of Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley increased their price target on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One equities 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.38.

Invesco Stock Down 3.0 %

Shares of NYSE:IVZ opened at $17.49 on Wednesday. The company has a market capitalization of $7.87 billion, a PE ratio of -23.32, a P/E/G ratio of 1.10 and a beta of 1.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. The company’s fifty day moving average is $17.12 and its 200-day moving average is $16.10. Invesco has a 52 week low of $12.48 and a 52 week high of $18.79.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. The company’s quarterly revenue was down 20.8% compared to the same quarter last year. Equities research analysts predict that Invesco will post 1.66 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be given a $0.205 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.69%. Invesco’s dividend payout ratio is currently -109.33%.

Institutional Investors Weigh In On Invesco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Centennial Wealth Advisory LLC boosted its holdings in Invesco by 3.8% during the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock worth $273,000 after buying an additional 669 shares during the last quarter. Wright Investors Service Inc. raised its position in shares of Invesco by 2.1% in the 1st quarter. Wright Investors Service Inc. now owns 46,787 shares of the asset manager’s stock valued at $776,000 after acquiring an additional 944 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Invesco by 1.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after acquiring an additional 946 shares during the period. Fifth Third Bancorp boosted its stake in Invesco by 6.1% during the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock worth $249,000 after acquiring an additional 963 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Invesco by 11.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock valued at $155,000 after purchasing an additional 1,010 shares during the period. 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.