Invesco (NYSE:IVZ) Cut to Sell at StockNews.com

StockNews.com lowered shares of Invesco (NYSE:IVZ) from a hold rating to a sell rating in a report published on Thursday morning.

Several other brokerages have also recently issued reports on IVZ. Morgan Stanley lifted their price objective on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. The Goldman Sachs Group reduced their price objective on Invesco from $17.50 to $17.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. TD Cowen reduced their price objective on Invesco from $21.00 to $19.50 and set a buy rating for the company in a report on Wednesday, April 24th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $17.00 price objective (down from $19.00) on shares of Invesco in a report on Wednesday, April 24th. Finally, BMO Capital Markets reaffirmed a market perform rating and set a $17.00 price objective (down from $18.00) on shares of Invesco in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $16.81.

Invesco Price Performance

Invesco stock opened at $16.03 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 6.89 and a current ratio of 6.89. Invesco has a 1-year low of $12.48 and a 1-year high of $18.71. The stock’s 50 day moving average price is $15.32 and its 200 day moving average price is $15.79.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. Equities analysts anticipate that Invesco will post 1.65 EPS for the current year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th were given a dividend of $0.205 per share. The ex-dividend date was Monday, May 13th. This is an increase from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 5.12%. Invesco’s dividend payout ratio is -109.33%.

Hedge Funds Weigh In On Invesco

Several large investors have recently added to or reduced their stakes in IVZ. Graham Capital Management L.P. purchased a new position in Invesco during the third quarter worth about $1,146,000. Deutsche Bank AG increased its stake in Invesco by 26.4% during the third quarter. Deutsche Bank AG now owns 1,922,406 shares of the asset manager’s stock worth $27,913,000 after acquiring an additional 402,098 shares during the last quarter. American Century Companies Inc. increased its stake in Invesco by 1.3% during the third quarter. American Century Companies Inc. now owns 1,657,313 shares of the asset manager’s stock worth $24,064,000 after acquiring an additional 21,769 shares during the last quarter. Diversified Trust Co acquired a new stake in Invesco during the fourth quarter worth about $433,000. Finally, Wedmont Private Capital acquired a new stake in Invesco during the fourth quarter worth about $256,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.