The Goldman Sachs Group Trims Invesco (NYSE:IVZ) Target Price to $16.75

Invesco (NYSE:IVZ) had its price objective decreased by The Goldman Sachs Group from $17.75 to $16.75 in a research note released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

IVZ has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on Invesco from $17.00 to $16.50 and set a neutral rating for the company in a report on Wednesday. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $17.00 target price (down previously from $19.00) on shares of Invesco in a report on Wednesday. Morgan Stanley lifted their target price on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. Wells Fargo & Company dropped their target price on Invesco from $20.00 to $19.00 and set an overweight rating for the company in a report on Wednesday, January 24th. Finally, UBS Group dropped their target price on Invesco from $18.00 to $17.00 and set a neutral rating for the company in a report on Monday, January 29th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $16.79.

Invesco Trading Up 1.1 %

NYSE IVZ opened at $14.67 on Wednesday. The business has a 50 day simple moving average of $15.69 and a two-hundred day simple moving average of $15.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.01 and a current ratio of 5.01. Invesco has a 1-year low of $12.48 and a 1-year high of $18.71.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. On average, sell-side analysts anticipate that Invesco will post 1.68 earnings per share for the current fiscal year.

Invesco Increases Dividend

The firm 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 a positive change from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date is Monday, May 13th. Invesco’s dividend payout ratio (DPR) is currently -106.67%.

Institutional Investors Weigh In On Invesco

Institutional investors and hedge funds have recently bought and sold shares of the company. Gables Capital Management Inc. raised its position in Invesco by 74.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 700 shares in the last quarter. Orion Capital Management LLC bought a new stake in Invesco during the 3rd quarter valued at $25,000. Pinnacle Bancorp Inc. raised its position in Invesco by 100.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 1,000 shares in the last quarter. Quarry LP bought a new stake in Invesco during the 4th quarter valued at $37,000. Finally, Jones Financial Companies Lllp bought a new stake in Invesco during the 3rd quarter valued at $32,000. 66.09% of the stock is owned by institutional investors.

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.