Invesco (NYSE:IVZ) Price Target Raised to $19.00 at Evercore ISI

Invesco (NYSE:IVZ) had its price target upped by Evercore ISI from $18.00 to $19.00 in a research report report published on Wednesday, Benzinga reports. They currently have an in-line rating on the asset manager’s stock.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley boosted their price objective on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their target price on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada upped their price target on Invesco from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.38.

Invesco Stock Down 3.0 %

NYSE:IVZ opened at $17.49 on Wednesday. The company’s 50-day simple moving average is $17.12 and its 200-day simple moving average is $16.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.79. The stock has a market capitalization of $7.87 billion, a P/E ratio of -23.32, a P/E/G ratio of 1.10 and a beta of 1.44.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was down 20.8% on a year-over-year basis. On average, equities analysts anticipate that Invesco will post 1.66 earnings per share for the current fiscal year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is presently -109.33%.

Institutional Investors Weigh In On Invesco

A number of hedge funds have recently modified their holdings of IVZ. Dimensional Fund Advisors LP boosted its holdings in Invesco by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after purchasing an additional 3,349,069 shares during the last quarter. Swedbank AB purchased a new stake in Invesco in the first quarter valued at $41,475,000. Ossiam grew its holdings in shares of Invesco by 2,712.9% during the 1st quarter. Ossiam now owns 680,157 shares of the asset manager’s stock worth $11,284,000 after purchasing an additional 655,977 shares during the period. Marshall Wace LLP increased its position in shares of Invesco by 115.7% during the 2nd quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock worth $18,269,000 after purchasing an additional 654,960 shares during the last quarter. Finally, M&G Plc purchased a new stake in Invesco in the 1st quarter valued at about $8,438,000. Hedge funds and other institutional investors 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.