Invesco (NYSE:IVZ) Price Target Cut to $16.50

Invesco (NYSE:IVZ) had its price target lowered by JPMorgan Chase & Co. from $17.00 to $16.50 in a research note released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada raised their target price on shares of Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a research note on Thursday, January 18th. The Goldman Sachs Group lowered their price target on shares of Invesco from $18.00 to $17.75 and set a neutral rating for the company in a report on Thursday, April 11th. UBS Group decreased their price objective on shares of Invesco from $18.00 to $17.00 and set a neutral rating for the company in a report on Monday, January 29th. TheStreet lowered shares of Invesco from a b- rating to a c rating in a report on Friday, February 23rd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Invesco from $21.00 to $19.50 and set an outperform rating for the company in a report on Wednesday, January 24th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $16.79.

Invesco Trading Up 1.1 %

NYSE:IVZ opened at $14.68 on Wednesday. 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 has a fifty-two week low of $12.48 and a fifty-two week high of $18.71. The firm’s 50 day moving average is $15.69 and its two-hundred day moving average is $15.44.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share 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 business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. On average, equities research analysts predict that Invesco will post 1.7 earnings per share for the current fiscal year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.59%. This is a positive change from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, May 13th. Invesco’s payout ratio is presently -106.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IVZ. Point72 Asset Management L.P. boosted its stake in Invesco by 1,411.1% during the 4th quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock valued at $67,016,000 after purchasing an additional 3,507,900 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Invesco in the 4th quarter worth approximately $61,795,000. Norges Bank acquired a new stake in shares of Invesco in the 4th quarter worth approximately $59,713,000. Dimensional Fund Advisors LP lifted its stake in shares of Invesco by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock worth $246,163,000 after acquiring an additional 2,592,039 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Invesco by 30.7% in the 3rd quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock worth $86,306,000 after acquiring an additional 1,395,023 shares during the period. 66.09% of the stock is owned by institutional investors and hedge funds.

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.