Invesco (NYSE:IVZ) Hits New 12-Month High – Here’s Why

Invesco Ltd. (NYSE:IVZ) reached a new 52-week high on Thursday . The stock traded as high as $18.31 and last traded at $18.30, with a volume of 125160 shares traded. The stock had previously closed at $18.17.

Wall Street Analysts Forecast Growth

IVZ has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays began coverage on Invesco in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 price target for the company. 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 research note on Friday, October 11th. Wells Fargo & Company upped their price target on Invesco from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, October 9th. Finally, StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.42.

Invesco Trading Up 0.4 %

The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of -24.40, a PEG ratio of 1.10 and a beta of 1.44. The firm has a 50-day moving average price of $16.93 and a 200-day moving average price of $16.04. 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 issued its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $1.09 billion for 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. As a group, sell-side analysts predict that Invesco Ltd. will post 1.66 EPS for the current year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were given a $0.205 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.82 annualized dividend and a dividend yield of 4.49%. Invesco’s dividend payout ratio (DPR) is presently -109.33%.

Institutional Trading of Invesco

Institutional investors have recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in shares of Invesco in the second quarter worth about $28,000. Sentry Investment Management LLC acquired a new stake in shares of Invesco in the second quarter worth about $30,000. Fidelis Capital Partners LLC acquired a new stake in shares of Invesco in the first quarter worth about $52,000. Abich Financial Wealth Management LLC lifted its position in shares of Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after buying an additional 1,210 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Invesco in the second quarter worth about $61,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Company Profile

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.