Invesco Ltd. (NYSE:IVZ) Receives Average Rating of “Hold” from Brokerages

Invesco Ltd. (NYSE:IVZ) has earned an average rating of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $22.44.

Several research firms have recently issued reports on IVZ. Jefferies Financial Group cut Invesco from a “buy” rating to a “hold” rating and reduced their target price for the company from $24.00 to $23.00 in a research note on Friday, June 7th. Deutsche Bank set a $21.00 target price on Invesco and gave the company a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research cut Invesco from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. UBS Group cut Invesco from a “neutral” rating to a “sell” rating and set a $18.00 target price on the stock. in a research note on Monday, May 13th. Finally, Citigroup set a $20.00 target price on Invesco and gave the company a “hold” rating in a research note on Wednesday, July 31st.

In other Invesco news, major shareholder Ltd. Invesco purchased 2,222,222 shares of the stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $4.50 per share, with a total value of $9,999,999.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director G Richard Wagoner, Jr. purchased 10,000 shares of the stock in a transaction dated Friday, June 7th. The shares were acquired at an average cost of $20.71 per share, for a total transaction of $207,100.00. Following the completion of the acquisition, the director now owns 25,648 shares of the company’s stock, valued at $531,170.08. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Rehmann Capital Advisory Group grew its position in shares of Invesco by 100.0% during the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock worth $26,000 after purchasing an additional 669 shares in the last quarter. Parallel Advisors LLC boosted its stake in Invesco by 58.8% during the first quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock valued at $28,000 after buying an additional 532 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Invesco during the second quarter valued at approximately $29,000. Asset Dedication LLC boosted its stake in Invesco by 142.9% during the second quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Invesco by 46.2% during the first quarter. Quadrant Capital Group LLC now owns 2,213 shares of the asset manager’s stock valued at $38,000 after buying an additional 699 shares during the last quarter. 65.17% of the stock is currently owned by hedge funds and other institutional investors.

Invesco stock traded down $0.28 during trading hours on Monday, reaching $15.62. The company had a trading volume of 4,812,987 shares, compared to its average volume of 6,504,437. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.45. The company has a 50-day moving average price of $18.31 and a 200 day moving average price of $19.68. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 6.43, a P/E/G ratio of 0.77 and a beta of 1.51. Invesco has a 12-month low of $15.15 and a 12-month high of $24.96.

Invesco (NYSE:IVZ) last posted its earnings results on Thursday, July 25th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Invesco had a return on equity of 10.23% and a net margin of 11.45%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Invesco will post 2.43 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.94%. The ex-dividend date of this dividend is Wednesday, August 14th. Invesco’s payout ratio is currently 51.03%.

About Invesco

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.

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Analyst Recommendations for Invesco (NYSE:IVZ)

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