Invesco (NYSE:IVZ) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Invesco (NYSE:IVZ) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

IVZ has been the topic of several other reports. BMO Capital Markets restated a market perform rating and issued a $17.00 price target (down from $18.00) on shares of Invesco in a research report on Wednesday, April 24th. The Goldman Sachs Group decreased their price target on Invesco from $17.50 to $17.00 and set a neutral rating on the stock in a research note on Tuesday, July 2nd. Morgan Stanley increased their price objective on Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Royal Bank of Canada lifted their price objective on Invesco from $16.00 to $17.00 and gave the stock a sector perform rating in a research report on Thursday, July 25th. Finally, TD Cowen cut their price target on Invesco from $21.00 to $19.50 and set a buy rating on the stock in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $16.90.

Invesco Stock Up 2.7 %

NYSE IVZ traded up $0.42 during trading on Tuesday, reaching $16.16. The company’s stock had a trading volume of 4,189,773 shares, compared to its average volume of 4,460,298. The business has a 50-day moving average price of $15.63 and a 200-day moving average price of $15.64. Invesco has a 1-year low of $12.48 and a 1-year high of $18.28. The stock has a market capitalization of $7.27 billion, a PE ratio of -21.55, a PEG ratio of 1.16 and a beta of 1.47. The company has a current ratio of 5.80, a quick ratio of 6.89 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last posted its earnings results 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 8.41% and a negative net margin of 1.73%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company earned $0.31 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts forecast that Invesco will post 1.65 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend is Friday, August 16th. Invesco’s payout ratio is -109.33%.

Institutional Investors Weigh In On Invesco

Large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its position in Invesco by 10.8% during the fourth quarter. Raymond James & Associates now owns 73,021 shares of the asset manager’s stock worth $1,303,000 after purchasing an additional 7,104 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Invesco by 16.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,023 shares of the asset manager’s stock worth $393,000 after buying an additional 3,111 shares during the last quarter. Fifth Third Bancorp boosted its stake in Invesco by 31.9% in the fourth quarter. Fifth Third Bancorp now owns 15,133 shares of the asset manager’s stock valued at $270,000 after buying an additional 3,664 shares in the last quarter. International Assets Investment Management LLC bought a new position in Invesco in the fourth quarter valued at about $296,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Invesco by 86.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,914 shares of the asset manager’s stock worth $2,193,000 after acquiring an additional 57,076 shares in the last quarter. 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.