Invesco (NYSE:IVZ) Given New $19.50 Price Target at Wells Fargo & Company

Invesco (NYSE:IVZ) had its target price raised by Wells Fargo & Company from $17.00 to $19.50 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the asset manager’s stock.

Several other research firms have also recently weighed in on IVZ. Royal Bank of Canada started coverage on shares of Invesco in a research report on Tuesday. They set a “sector perform” rating and a $19.00 price objective on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, December 20th. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group decreased their target price on shares of Invesco from $19.25 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley decreased their target price on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $19.71.

Invesco Price Performance

Shares of NYSE:IVZ opened at $18.99 on Wednesday. The firm has a fifty day moving average price of $17.67 and a two-hundred day moving average price of $17.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. Invesco has a one year low of $14.16 and a one year high of $19.49.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. As a group, equities analysts anticipate that Invesco will post 1.7 EPS for the current year.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Friday, February 14th. Invesco’s payout ratio is -89.13%.

Institutional Investors Weigh In On Invesco

A number of large investors have recently modified their holdings of IVZ. Avior Wealth Management LLC boosted its stake in shares of Invesco by 484.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 1,285 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Invesco during the 3rd quarter valued at about $35,000. Allworth Financial LP boosted its stake in shares of Invesco by 304.0% during the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 1,806 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Invesco during the 4th quarter valued at about $44,000. Finally, Truvestments Capital LLC bought a new stake in Invesco during the third quarter worth about $76,000. 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.