Wells Fargo & Co Downgrades Invesco (IVZ) to Market Perform

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Wells Fargo & Co lowered shares of Invesco (NYSE:IVZ) from an outperform rating to a market perform rating in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has $22.00 price target on the asset manager’s stock, down from their previous price target of $27.00.

Several other research analysts have also recently weighed in on IVZ. Zacks Investment Research raised Invesco from a sell rating to a hold rating in a research note on Tuesday, October 16th. Deutsche Bank decreased their target price on Invesco from $27.00 to $25.00 and set a buy rating for the company in a research note on Friday, November 16th. Barclays decreased their target price on Invesco from $25.00 to $23.00 and set an overweight rating for the company in a research note on Monday, December 3rd. Morgan Stanley decreased their target price on Invesco from $29.00 to $28.00 and set an equal weight rating for the company in a research note on Tuesday, October 9th. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $30.00 target price on shares of Invesco in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $28.91.

NYSE:IVZ opened at $18.52 on Tuesday. Invesco has a 1 year low of $18.39 and a 1 year high of $38.43. The firm has a market capitalization of $8.03 billion, a PE ratio of 6.86, a price-to-earnings-growth ratio of 0.84 and a beta of 1.50. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.82.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. Invesco had a return on equity of 12.25% and a net margin of 21.66%. The company had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $972.49 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Invesco will post 2.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Tuesday, November 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 9th. This represents a $1.20 annualized dividend and a yield of 6.48%. Invesco’s dividend payout ratio is currently 44.44%.

A number of hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC lifted its holdings in shares of Invesco by 3,034.1% during the second quarter. Sun Life Financial INC now owns 4,137 shares of the asset manager’s stock valued at $110,000 after purchasing an additional 4,005 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Invesco by 80.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,689 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 2,539 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Invesco by 51.4% during the second quarter. Bessemer Group Inc. now owns 6,706 shares of the asset manager’s stock valued at $178,000 after purchasing an additional 2,277 shares during the last quarter. Private Capital Group LLC lifted its holdings in shares of Invesco by 134.0% during the second quarter. Private Capital Group LLC now owns 7,080 shares of the asset manager’s stock valued at $188,000 after purchasing an additional 4,055 shares during the last quarter. Finally, First Interstate Bank lifted its holdings in shares of Invesco by 66.7% during the third quarter. First Interstate Bank now owns 7,500 shares of the asset manager’s stock valued at $172,000 after purchasing an additional 3,000 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

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.

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