Invesco (NYSE:IVZ) Receives Market Perform Rating from BMO Capital Markets

BMO Capital Markets reiterated their market perform rating on shares of Invesco (NYSE:IVZ) in a research report released on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a $17.00 price objective on the asset manager’s stock, down from their previous price objective of $18.00.

Other equities analysts also recently issued reports about the stock. TD Cowen began coverage on shares of Invesco in a research note on Thursday, January 4th. They issued an outperform rating and a $21.00 price target on the stock. Keefe, Bruyette & Woods restated a market perform rating and set a $17.00 target price (down from $19.00) on shares of Invesco in a report on Wednesday. Royal Bank of Canada increased their price target on Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a report on Thursday, January 18th. The Goldman Sachs Group lowered their price objective on Invesco from $17.75 to $16.75 and set a neutral rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company cut their target price on Invesco from $20.00 to $19.00 and set an overweight rating for the company in a research note on Wednesday, January 24th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $16.79.

Invesco Price Performance

NYSE:IVZ opened at $14.52 on Wednesday. The company has a 50 day moving average price of $15.73 and a 200-day moving average price of $15.44. Invesco has a 1-year low of $12.48 and a 1-year high of $18.71. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.54.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. Analysts anticipate that Invesco will post 1.75 EPS for the current year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.65%. The ex-dividend date is Monday, May 13th. This is an increase from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio (DPR) is -106.67%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Invesco by 97.8% in the third quarter. SG Americas Securities LLC now owns 197,182 shares of the asset manager’s stock valued at $2,863,000 after buying an additional 97,487 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Invesco during the 3rd quarter valued at about $255,000. Czech National Bank grew its position in Invesco by 44.6% in the 3rd quarter. Czech National Bank now owns 78,409 shares of the asset manager’s stock valued at $1,138,000 after acquiring an additional 24,171 shares in the last quarter. Bremer Bank National Association increased its stake in Invesco by 13.1% during the third quarter. Bremer Bank National Association now owns 108,791 shares of the asset manager’s stock worth $1,580,000 after purchasing an additional 12,585 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Invesco by 7.3% in the third quarter. Commonwealth Equity Services LLC now owns 191,893 shares of the asset manager’s stock valued at $2,786,000 after purchasing an additional 13,076 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.