Invesco (NYSE:IVZ) Lifted to Hold at StockNews.com

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

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price objective on Invesco from $17.00 to $16.50 and set a neutral rating for the company in a research report on Wednesday, April 24th. The Goldman Sachs Group dropped their price objective on Invesco from $17.50 to $17.00 and set a neutral rating for the company in a research report on Tuesday, July 2nd. BMO Capital Markets restated a market perform rating and set a $17.00 price objective (down from $18.00) on shares of Invesco in a research report on Wednesday, April 24th. TD Cowen dropped their price objective on Invesco from $21.00 to $19.50 and set a buy rating for the company in a research report on Wednesday, April 24th. Finally, Morgan Stanley upped their price objective on Invesco from $16.00 to $17.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat.com, Invesco currently has a consensus rating of Hold and an average target price of $16.90.

Invesco Price Performance

NYSE:IVZ opened at $17.42 on Wednesday. The stock has a fifty day moving average price of $15.52 and a 200-day moving average price of $15.70. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.48. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.28.

Invesco (NYSE:IVZ) last announced 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 positive return on equity of 7.64% and a negative net margin of 1.73%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $0.31 EPS. Invesco’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts forecast that Invesco will post 1.65 earnings per share for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.82 annualized dividend and a dividend yield of 4.71%. Invesco’s payout ratio is -109.33%.

Institutional Investors Weigh In On Invesco

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its stake in shares of Invesco by 10.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock valued at $7,718,000 after buying an additional 44,417 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Invesco in the first quarter valued at about $2,066,000. Norges Bank acquired a new stake in shares of Invesco in the fourth quarter valued at about $59,713,000. PNC Financial Services Group Inc. increased its stake in shares of Invesco by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock valued at $1,353,000 after buying an additional 6,994 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Invesco by 5,321.9% in the first quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock valued at $1,416,000 after buying an additional 83,767 shares during the period. Institutional investors and hedge funds 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.