Invesco (NYSE:IVZ) Price Target Increased to $17.00 by Analysts at Morgan Stanley

Invesco (NYSE:IVZ) had its target price lifted by Morgan Stanley from $16.00 to $17.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada raised their target price on Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. The Goldman Sachs Group increased their price target on shares of Invesco from $17.25 to $17.50 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their price objective on shares of Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, October 9th. Barclays initiated coverage on Invesco in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, August 15th. 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 company. According to data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and an average target price of $17.42.

Invesco Trading Up 1.9 %

NYSE:IVZ opened at $18.63 on Friday. The company’s 50 day moving average is $17.03 and its 200-day moving average is $16.07. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. Invesco has a 12 month low of $12.48 and a 12 month high of $18.79. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of -24.83, a P/E/G ratio of 1.10 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.31 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts anticipate that Invesco will post 1.66 EPS for the current year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.40%. Invesco’s payout ratio is presently -109.33%.

Institutional Investors Weigh In On Invesco

Hedge funds have recently made changes to their positions in the company. Centennial Wealth Advisory LLC boosted its position in Invesco by 3.8% in the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock valued at $273,000 after buying an additional 669 shares in the last quarter. Wright Investors Service Inc. grew its position in Invesco by 2.1% during the 1st quarter. Wright Investors Service Inc. now owns 46,787 shares of the asset manager’s stock worth $776,000 after acquiring an additional 944 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Invesco by 1.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after purchasing an additional 946 shares in the last quarter. Fifth Third Bancorp raised its position in 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 boosted its stake in Invesco by 11.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock worth $155,000 after purchasing an additional 1,010 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.