Invesco (NYSE:IVZ) Sets New 1-Year Low After Analyst Downgrade

Invesco Ltd. (NYSE:IVZ)’s share price hit a new 52-week low during mid-day trading on Thursday after Bank of America lowered their price target on the stock from $19.00 to $18.00. Bank of America currently has a neutral rating on the stock. Invesco traded as low as $13.92 and last traded at $13.97, with a volume of 1943858 shares traded. The stock had previously closed at $15.69.

IVZ has been the topic of several other research reports. Argus upped their price objective on Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. UBS Group raised their target price on Invesco from $17.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada started coverage on shares of Invesco in a research note on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 target price for the company. Wells Fargo & Company increased their price target on Invesco from $17.00 to $19.50 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.55.

Hedge Funds Weigh In On Invesco

Several hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $35,000. Colonial Trust Co SC bought a new position in shares of Invesco in the 4th quarter valued at $38,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Invesco by 180.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock worth $42,000 after buying an additional 1,531 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Invesco during the 4th quarter worth $44,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Invesco in the fourth quarter valued at about $52,000. 66.09% of the stock is owned by institutional investors.

Invesco Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market cap of $6.27 billion, a P/E ratio of 11.86, a PEG ratio of 0.98 and a beta of 1.43. The stock has a 50-day simple moving average of $17.02 and a 200-day simple moving average of $17.41.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. Research analysts forecast that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 annualized dividend and a dividend yield of 5.86%. Invesco’s dividend payout ratio (DPR) is presently 69.49%.

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.