Invesco (NYSE:IVZ) Price Target Cut to $16.50

Invesco (NYSE:IVZ) had its target price trimmed by JPMorgan Chase & Co. from $17.00 to $16.50 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of Invesco from a sell rating to a hold rating in a research report on Friday, February 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Invesco from $21.00 to $19.50 and set an outperform rating for the company in a report on Wednesday, January 24th. TD Cowen started coverage on shares of Invesco in a report on Thursday, January 4th. They set an outperform rating and a $21.00 target price for the company. Wells Fargo & Company decreased their price target on shares of Invesco from $20.00 to $19.00 and set an overweight rating for the company in a research note on Wednesday, January 24th. Finally, TheStreet downgraded shares of Invesco from a b- rating to a c rating in a research note on Friday, February 23rd. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Invesco currently has an average rating of Hold and an average target price of $16.79.

Invesco Trading Up 1.1 %

Invesco stock opened at $14.67 on Wednesday. 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 fifty-two week low of $12.48 and a fifty-two week high of $18.71. The firm’s fifty day moving average price is $15.69 and its 200-day moving average price is $15.45.

Invesco (NYSE:IVZ) last released its 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). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. As a group, analysts forecast that Invesco will post 1.68 earnings per share for the current year.

Invesco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date is Monday, May 13th. This represents a $0.82 annualized dividend and a dividend yield of 5.59%. This is an increase from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio (DPR) is -106.67%.

Institutional Investors Weigh In On Invesco

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP increased its position in shares of Invesco by 276.8% during the third quarter. Quantbot Technologies LP now owns 81,754 shares of the asset manager’s stock valued at $1,187,000 after acquiring an additional 60,057 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Invesco during the fourth quarter valued at approximately $1,166,000. Northern Trust Corp increased its position in shares of Invesco by 30.7% during the third quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock valued at $86,306,000 after acquiring an additional 1,395,023 shares in the last quarter. Raymond James & Associates boosted its holdings in Invesco by 4.5% in the third quarter. Raymond James & Associates now owns 65,917 shares of the asset manager’s stock worth $957,000 after purchasing an additional 2,846 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Invesco by 99.6% in the third quarter. Hsbc Holdings PLC now owns 749,137 shares of the asset manager’s stock worth $10,912,000 after purchasing an additional 373,778 shares during the last quarter. 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.