The Goldman Sachs Group Boosts Invesco (NYSE:IVZ) Price Target to $17.50

Invesco (NYSE:IVZ) had its price target upped by The Goldman Sachs Group from $17.25 to $17.50 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

IVZ has been the topic of several other reports. Barclays started coverage on shares of Invesco in a research note on Tuesday, August 27th. They issued an equal weight rating and a $18.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a hold rating in a report on Thursday, August 15th. Evercore ISI lifted their price objective on Invesco from $17.00 to $18.00 and gave the company an in-line rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Invesco from $16.00 to $17.00 and gave the stock a sector perform rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company raised their price target on Invesco from $16.00 to $16.50 and gave the company an underweight rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Invesco has a consensus rating of Hold and an average target price of $17.33.

Invesco Stock Performance

Shares of NYSE IVZ traded up $0.07 during midday trading on Thursday, reaching $17.75. 817,929 shares of the company were exchanged, compared to its average volume of 4,222,956. The stock has a market cap of $7.99 billion, a P/E ratio of -23.58, a PEG ratio of 1.10 and a beta of 1.44. Invesco has a 1 year low of $12.48 and a 1 year high of $18.28. The stock has a fifty day simple moving average of $16.73 and a 200 day simple moving average of $16.00. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. On average, research analysts forecast that Invesco will post 1.66 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Friday, August 16th. Invesco’s dividend payout ratio is currently -109.33%.

Hedge Funds Weigh In On Invesco

Large investors have recently added to or reduced their stakes in the business. Centennial Wealth Advisory LLC boosted its position in shares of Invesco by 3.8% in the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock worth $273,000 after acquiring an additional 669 shares during the last quarter. Wright Investors Service Inc. raised its stake in Invesco by 2.1% during the first quarter. Wright Investors Service Inc. now owns 46,787 shares of the asset manager’s stock worth $776,000 after purchasing an additional 944 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Invesco by 1.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock worth $1,001,000 after purchasing an additional 946 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Invesco by 6.1% in the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 963 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Invesco by 11.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock valued at $155,000 after buying an additional 1,010 shares during the period. 66.09% of the stock is currently owned by hedge funds and other 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.