Invesco (NYSE:IVZ) Given New $17.00 Price Target at Royal Bank of Canada

Invesco (NYSE:IVZ) had its price objective raised by Royal Bank of Canada from $16.00 to $17.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a sector perform rating on the asset manager’s stock.

IVZ has been the subject of several other research reports. The Goldman Sachs Group dropped their price objective on shares of Invesco from $17.50 to $17.00 and set a neutral rating for the company in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. dropped their target price on shares of Invesco from $17.00 to $16.50 and set a neutral rating for the company in a research report on Wednesday, April 24th. TD Cowen dropped their target price on shares of Invesco from $21.00 to $19.50 and set a buy rating for the company in a research report on Wednesday, April 24th. StockNews.com upgraded shares of Invesco from a sell rating to a hold rating in a research report on Wednesday. Finally, Morgan Stanley upped their price objective 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. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Invesco has a consensus rating of Hold and an average target price of $16.90.

Invesco Stock Performance

IVZ stock opened at $17.23 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.89 and a quick ratio of 6.89. The company has a 50 day moving average price of $15.49 and a 200 day moving average price of $15.72. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.28. The stock has a market capitalization of $7.75 billion, a PE ratio of -22.80, a price-to-earnings-growth ratio of 1.35 and a beta of 1.47.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 7.64%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company posted $0.31 EPS. Invesco’s revenue was down .4% on a year-over-year basis. Analysts forecast that Invesco will post 1.65 EPS for the current year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 16th will be paid a $0.205 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.82 annualized dividend and a yield of 4.76%. Invesco’s dividend payout ratio (DPR) is currently -109.33%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Family Firm Inc. bought a new position in Invesco in the 2nd quarter valued at about $28,000. Gables Capital Management Inc. increased its holdings in shares of Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after purchasing an additional 700 shares during the period. Pinnacle Bancorp Inc. increased its holdings in shares of Invesco by 100.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after purchasing an additional 1,000 shares during the period. Quarry LP bought a new position in shares of Invesco during the fourth quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Invesco by 182.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock worth $44,000 after purchasing an additional 1,589 shares during the period. 66.09% of the stock is owned by institutional investors.

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.