Invesco (NYSE:IVZ) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of Invesco Ltd. (NYSE:IVZ) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $28.00 and traded as low as $27.38. Invesco shares last traded at $27.71, with a volume of 5,864,917 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on IVZ shares. Evercore set a $34.00 price objective on shares of Invesco in a report on Friday, October 9th. Morgan Stanley upped their target price on shares of Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Invesco in a research report on Friday, September 25th. BMO Capital Markets raised their price objective on shares of Invesco from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Finally, Barclays increased their target price on shares of Invesco from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.79.

Invesco Stock Performance

The company has a market cap of $12.28 billion, a PE ratio of -40.16, a P/E/G ratio of 0.45 and a beta of 1.65. The stock’s 50-day simple moving average is $30.54 and its 200 day simple moving average is $28.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, October 27th. The asset manager reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). Invesco had a negative net margin of 1.10% and a positive return on equity of 12.65%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts anticipate that Invesco Ltd. will post 2.80 EPS for the current year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be paid a $0.2150 dividend. This represents a $0.86 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Invesco’s payout ratio is presently -124.64%.

Insiders Place Their Bets

In other Invesco news, Director Phoebe Wood sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $32.44, for a total value of $97,320.00. Following the sale, the director directly owned 107,111 shares of the company’s stock, valued at approximately $3,474,680.84. This trade represents a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laura Dukes sold 31,075 shares of Invesco stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $33.16, for a total value of $1,030,447.00. Following the completion of the sale, the chief financial officer owned 259,183 shares of the company’s stock, valued at $8,594,508.28. This trade represents a 10.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 222,540 shares of company stock valued at $7,227,167. 1.40% of the stock is owned by company insiders.

Institutional Trading of Invesco

A number of institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC lifted its position in shares of Invesco by 38.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 43,601 shares of the asset manager’s stock worth $1,223,000 after acquiring an additional 12,187 shares during the period. Richardson Financial Services Inc. raised its holdings in Invesco by 144.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 930 shares of the asset manager’s stock worth $28,000 after purchasing an additional 550 shares during the last quarter. Ascent Group LLC boosted its stake in Invesco by 32.5% in the third quarter. Ascent Group LLC now owns 38,384 shares of the asset manager’s stock valued at $1,158,000 after acquiring an additional 9,414 shares during the last quarter. Compass Financial Management LLC bought a new stake in shares of Invesco in the 3rd quarter valued at about $118,000. Finally, Rakuten Investment Management Inc. bought a new position in Invesco during the third quarter worth about $1,537,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.

Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.