Invesco Ltd (NYSE:IVZ – Get a rating) has been assigned a consensus rating of “Hold” by the twelve rating agencies that cover the company, Market Beat Ratings reports. One analyst rated the stock with a sell recommendation, five gave the company a hold recommendation and two gave the company a buy recommendation. The 12-month average price target among brokerages that have covered the stock over the past year is $25.82.
A number of equity research analysts have recently released reports on the stock. Keefe, Bruyette & Woods downgraded Invesco shares from an “outperform” rating to a “market performer” rating and set a price target of $25.00 for the company. in a research report on Tuesday, April 12. Evercore ISI cut its price target on Invesco from $28.00 to $25.00 and set an “in-line” rating for the company in a Wednesday, Jan. 26 research report. Royal Bank of Canada cut its price target on Invesco from $26.00 to $23.00 in a research report on Tuesday, January 25. Bank of America cut its price target on Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a Wednesday, Jan. 26 research report. To finish, StockNews.com downgraded Invesco from a “hold” rating to a “sell” rating in a Monday, May 9 research report.
In other news, Director Gregory Mcgreevey sold 200,000 shares of the company in a trade on Tuesday, March 8. The shares were sold at an average price of $19.60, for a total transaction of $3,920,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, CAO Terry Vacheron purchased 4,000 shares of the company in a trade that took place on Tuesday, May 10. The shares were acquired at an average cost of $17.40 per share, with a total value of $69,600.00. Following completion of the transaction, the chief accounting officer now owns 10,696 shares of the company, valued at approximately $186,110.40. Disclosure of this purchase can be found here. Insiders have purchased a total of 8,459,690 shares of the company valued at $181,140,834 over the past three months. Company insiders hold 1.94% of the company’s shares.
Institutional investors have recently changed their positions in the stock. Cinctive Capital Management LP acquired a new stake in Invesco during the 3rd quarter at a value of $5,531,000. The New York State Common Retirement Fund increased its holdings in Invesco by 2.8% in the fourth quarter. The New York State Common Retirement Fund now owns 1,182,402 shares of the asset manager worth $27,219,000 after buying 31,944 additional shares in the last quarter. The Illinois Municipal Retirement Fund increased its holdings in Invesco by 25.7% in the fourth quarter. The Illinois Municipal Retirement Fund now owns 85,698 shares of the asset manager worth $1,973,000 after buying an additional 17,499 shares last quarter. CIBC Asset Management Inc. increased its holdings in Invesco by 1.7% in the fourth quarter. CIBC Asset Management Inc. now owns 38,050 shares of the asset manager worth $876,000 after purchasing an additional 647 shares last quarter. Finally, First Horizon Advisors Inc. increased its stake in Invesco by 80.6% in the 4th quarter. First Horizon Advisors Inc. now owns 2,873 shares of the asset manager worth $66,000 after buying an additional 1,282 shares last quarter. 67.53% of the shares are held by hedge funds and other institutional investors.
Shares of IVZ opened at $17.84 on Friday. Invesco has a 12-month low of $16.76 and a 12-month high of $29.71. The stock’s 50-day moving average is $20.63 and its two-hundred-day moving average is $22.38. The company has a market capitalization of $8.12 billion, a PE ratio of 6.26, a P/E/G ratio of 1.08 and a beta of 1.25. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt ratio of 0.77.
Invesco (NYSE:IVZ – Get a rating) last reported quarterly earnings data on Tuesday, April 26. The asset manager reported earnings per share of $0.56 for the quarter, missing analyst consensus estimates of $0.61 per ($0.05). Invesco had a net margin of 22.72% and a return on equity of 13.70%. The company posted revenue of $1.63 billion in the quarter, versus $1.28 billion expected by analysts. During the same period a year earlier, the company posted EPS of $0.68. Invesco’s revenue for the quarter was down 1.9% from the same quarter last year. On average, sell-side analysts expect Invesco to post EPS of 2.63 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2. Shareholders of record on Tuesday, May 10 will receive a dividend of $0.188 per share. The ex-dividend date is Monday, May 9. This is a boost from Invesco’s previous quarterly dividend of $0.17. This represents an annualized dividend of $0.75 and a dividend yield of 4.22%. Invesco’s payout ratio is currently 26.32%.
Invesco Company Profile (Get a rating)
Invesco Ltd. is a publicly held investment manager. The firm provides its services to retail clients, institutional clients, high net worth clients, public entities, corporations, unions, non-profit organizations, foundations, pension funds, financial institutions and sovereign wealth funds.
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