Evercore ISI Issues Positive Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its target price boosted by Evercore ISI from $19.00 to $20.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an in-line rating on the asset manager’s stock.

A number of other analysts also recently commented on the stock. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley lifted their price objective on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their target price on Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, UBS Group upped their price objective on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.46.

Invesco Price Performance

NYSE:IVZ traded down $0.30 during trading hours on Thursday, hitting $17.98. 2,942,331 shares of the stock were exchanged, compared to its average volume of 4,217,379. The firm’s fifty day moving average price is $17.33 and its 200 day moving average price is $16.26. Invesco has a 52-week low of $12.68 and a 52-week high of $18.94. The company has a market cap of $8.09 billion, a P/E ratio of -19.87, a P/E/G ratio of 1.00 and a beta of 1.44. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned $0.35 EPS. The firm’s revenue was down 20.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Invesco will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Thursday, November 14th. Invesco’s payout ratio is -89.13%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Invesco during the first quarter worth about $169,000. Norden Group LLC acquired a new stake in Invesco during the 1st quarter worth approximately $450,000. Daiwa Securities Group Inc. grew its stake in shares of Invesco by 22.8% in the first quarter. Daiwa Securities Group Inc. now owns 14,794 shares of the asset manager’s stock worth $245,000 after acquiring an additional 2,748 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of Invesco by 4.5% during the first quarter. Texas Permanent School Fund Corp now owns 103,613 shares of the asset manager’s stock worth $1,719,000 after acquiring an additional 4,491 shares during the period. Finally, Duality Advisers LP raised its stake in shares of Invesco by 323.0% in the first quarter. Duality Advisers LP now owns 95,689 shares of the asset manager’s stock valued at $1,587,000 after acquiring an additional 73,065 shares in the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.