Citigroup Trims Invesco (NYSE:IVZ) Target Price to $4.50

Invesco (NYSE:IVZ) had its price objective decreased by Citigroup from $5.00 to $4.50 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. Citigroup currently has a sell rating on the asset manager’s stock.

A number of other research firms also recently issued reports on IVZ. Bank of America dropped their price target on Invesco from $12.00 to $11.00 and set a neutral rating on the stock in a research note on Friday, July 10th. ValuEngine upgraded Invesco from a strong sell rating to a sell rating in a research note on Monday, June 1st. Zacks Investment Research downgraded Invesco from a hold rating to a sell rating and set a $8.00 price target on the stock. in a research note on Monday, April 6th. Deutsche Bank dropped their price target on Invesco from $12.00 to $11.00 and set a buy rating on the stock in a research note on Friday, May 15th. Finally, William Blair reiterated a market perform rating on shares of Invesco in a research note on Monday, April 27th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $10.44.

Shares of NYSE IVZ traded down $0.06 during midday trading on Thursday, hitting $10.04. 6,865,878 shares of the company’s stock were exchanged, compared to its average volume of 5,446,305. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.71 and a quick ratio of 1.71. Invesco has a twelve month low of $6.38 and a twelve month high of $19.37. The company has a market cap of $4.61 billion, a PE ratio of 9.84, a P/E/G ratio of 1.10 and a beta of 1.48. The firm’s fifty day simple moving average is $10.58 and its 200-day simple moving average is $11.66.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, July 28th. The asset manager reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Invesco had a return on equity of 9.90% and a net margin of 8.15%. Invesco’s revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. Equities analysts anticipate that Invesco will post 1.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.155 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 6.18%. Invesco’s dividend payout ratio (DPR) is 24.31%.

Several large investors have recently made changes to their positions in IVZ. Prudential PLC purchased a new stake in shares of Invesco in the first quarter valued at $43,899,000. Norges Bank purchased a new stake in shares of Invesco in the fourth quarter worth about $69,260,000. Contrarius Investment Management Ltd purchased a new stake in shares of Invesco in the first quarter worth about $27,675,000. Bank of New York Mellon Corp boosted its position in shares of Invesco by 34.8% in the first quarter. Bank of New York Mellon Corp now owns 11,814,228 shares of the asset manager’s stock worth $107,274,000 after buying an additional 3,047,716 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Invesco by 42.3% in the first quarter. Parametric Portfolio Associates LLC now owns 3,789,361 shares of the asset manager’s stock worth $34,407,000 after buying an additional 1,126,953 shares during the period. 65.21% of the stock is owned by institutional investors and hedge funds.

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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