Invesco Ltd. Plans Quarterly Dividend of $0.21 (NYSE:IVZ)

Invesco Ltd. (NYSE:IVZ) announced a quarterly dividend on Tuesday, October 22nd,RTT News reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.205 per share by the asset manager on Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Thursday, November 14th.

Invesco has raised its dividend by an average of 0.5% annually over the last three years. Invesco has a dividend payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Invesco to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 43.2%.

Invesco Stock Down 2.7 %

IVZ opened at $17.79 on Wednesday. Invesco has a 12-month low of $12.82 and a 12-month high of $18.94. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average price is $17.39 and its 200 day moving average price is $16.35.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The company’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. On average, equities research analysts anticipate that Invesco will post 1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on IVZ. Barclays increased their target price on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a report on Monday. Wells Fargo & Company raised their price target on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.63.

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.