TD Cowen Lowers Invesco (NYSE:IVZ) Price Target to $19.50

Invesco (NYSE:IVZ) had its target price reduced by TD Cowen from $21.00 to $19.50 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price objective on Invesco from $17.00 to $16.50 and set a neutral rating on the stock in a research note on Wednesday. BMO Capital Markets reissued a market perform rating and issued a $17.00 price objective (down from $18.00) on shares of Invesco in a research note on Wednesday. Keefe, Bruyette & Woods reissued a market perform rating and issued a $17.00 price objective (down from $19.00) on shares of Invesco in a research note on Wednesday. Morgan Stanley boosted their price objective on Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a research note on Wednesday, April 17th. Finally, UBS Group dropped their price objective on Invesco from $18.00 to $17.00 and set a neutral rating on the stock in a research note on Monday, January 29th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $16.79.

Invesco Price Performance

Shares of IVZ opened at $14.67 on Wednesday. Invesco has a 12 month low of $12.48 and a 12 month high of $18.71. The stock’s 50-day moving average price is $15.69 and its two-hundred day moving average price is $15.45. 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 announced its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, research analysts expect that Invesco will post 1.68 EPS for the current year.

Invesco Increases Dividend

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

Institutional Trading of Invesco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Invesco by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock worth $246,163,000 after purchasing an additional 2,592,039 shares in the last quarter. Northern Trust Corp increased its holdings in Invesco by 30.7% during the 3rd quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock worth $86,306,000 after purchasing an additional 1,395,023 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Invesco by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,034,956 shares of the asset manager’s stock worth $71,984,000 after purchasing an additional 136,582 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Invesco by 11.1% during the 4th quarter. Fisher Asset Management LLC now owns 3,921,250 shares of the asset manager’s stock worth $69,955,000 after purchasing an additional 391,935 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings 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 worth $67,016,000 after purchasing an additional 3,507,900 shares in the last quarter. 66.09% of the stock is owned by institutional investors.

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.