Invesco (NYSE:IVZ) Price Target Lowered to $16.75 at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price objective decreased by The Goldman Sachs Group from $17.75 to $16.75 in a research note issued to investors on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

IVZ has been the topic of several other research reports. StockNews.com upgraded Invesco from a sell rating to a hold rating in a report on Friday, February 23rd. Wells Fargo & Company cut their target price on Invesco from $20.00 to $19.00 and set an overweight rating on the stock in a report on Wednesday, January 24th. Morgan Stanley lifted their price target on shares of Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of Invesco from $17.00 to $16.50 and set a neutral rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods reissued a market perform rating and set a $17.00 target price (down from $19.00) on shares of Invesco in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Invesco has a consensus rating of Hold and a consensus target price of $16.79.

Invesco Trading Down 0.4 %

Shares of IVZ stock opened at $14.52 on Wednesday. The firm has a 50 day moving average of $15.73 and a 200-day moving average of $15.44. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.54. Invesco has a 52 week low of $12.48 and a 52 week high of $18.71.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts predict that Invesco will post 1.75 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend is Monday, May 13th. This is a positive change from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio (DPR) is currently -106.67%.

Institutional Trading of Invesco

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in Invesco by 97.8% during the 3rd quarter. SG Americas Securities LLC now owns 197,182 shares of the asset manager’s stock worth $2,863,000 after acquiring an additional 97,487 shares during the period. Exchange Traded Concepts LLC purchased a new position in Invesco during the third quarter worth about $255,000. Czech National Bank increased its stake in Invesco by 44.6% in the 3rd quarter. Czech National Bank now owns 78,409 shares of the asset manager’s stock worth $1,138,000 after acquiring an additional 24,171 shares during the last quarter. Bremer Bank National Association raised its holdings in shares of Invesco by 13.1% in the 3rd quarter. Bremer Bank National Association now owns 108,791 shares of the asset manager’s stock valued at $1,580,000 after acquiring an additional 12,585 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Invesco by 7.3% in the third quarter. Commonwealth Equity Services LLC now owns 191,893 shares of the asset manager’s stock worth $2,786,000 after acquiring an additional 13,076 shares in the last quarter. Hedge funds and other institutional investors 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.