Invesco (NYSE:IVZ) Shares Gap Down to $15.58

Invesco Ltd. (NYSE:IVZ) shares gapped down prior to trading on Tuesday . The stock had previously closed at $15.58, but opened at $14.64. Invesco shares last traded at $14.89, with a volume of 1,783,750 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. TD Cowen initiated coverage on shares of Invesco in a research report on Thursday, January 4th. They set an “outperform” rating and a $21.00 target price on the stock. Wells Fargo & Company cut their price objective on Invesco from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group dropped their target price on Invesco from $18.00 to $17.75 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Invesco currently has a consensus rating of “Hold” and a consensus price target of $17.46.

Invesco Trading Down 5.8 %

The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average is $15.76 and its 200 day moving average is $15.44. The company has a market cap of $6.59 billion, a price-to-earnings ratio of -19.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Research analysts predict that Invesco Ltd. will post 1.75 EPS for the current year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be issued a $0.205 dividend. This is a positive change from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Monday, May 13th. Invesco’s dividend payout ratio (DPR) is presently -108.11%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Insight Folios Inc increased its holdings in Invesco by 2.0% in the 1st quarter. Insight Folios Inc now owns 390,278 shares of the asset manager’s stock worth $6,475,000 after acquiring an additional 7,777 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Invesco in the first quarter valued at about $450,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Invesco during the first quarter worth about $169,000. Aviance Capital Partners LLC raised its position in shares of Invesco by 2.9% during the 1st quarter. Aviance Capital Partners LLC now owns 64,931 shares of the asset manager’s stock worth $1,077,000 after purchasing an additional 1,829 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Invesco by 53.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 54,426 shares of the asset manager’s stock valued at $903,000 after buying an additional 18,942 shares in the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

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.