Invesco (NYSE:IVZ) Price Target Raised to $11.00

Invesco (NYSE:IVZ) had its price target upped by Royal Bank of Canada from $10.00 to $11.00 in a research note published on Thursday, BenzingaRatingsTable reports. They currently have a sector perform rating on the asset manager’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays reissued a hold rating and issued a $11.00 price objective on shares of Invesco in a research note on Friday, July 17th. Bank of America dropped their price objective on shares of Invesco from $12.00 to $11.00 and set a neutral rating for the company in a research note on Friday, July 10th. Citigroup raised their price target on shares of Invesco from $4.50 to $5.50 and gave the company a sell rating in a research note on Thursday, May 28th. Wells Fargo & Co decreased their price objective on shares of Invesco from $9.50 to $7.00 and set an underweight rating for the company in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods cut shares of Invesco from an outperform rating to a market perform rating and decreased their price objective for the stock from $10.50 to $8.25 in a research report on Friday, April 24th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Invesco currently has an average rating of Hold and an average price target of $10.44.

IVZ traded down $0.06 on Thursday, reaching $10.04. The company had a trading volume of 6,865,878 shares, compared to its average volume of 5,446,305. Invesco has a fifty-two week low of $6.38 and a fifty-two week high of $19.37. The stock has a market cap of $4.61 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.10 and a beta of 1.48. The company’s fifty day moving average is $10.58 and its 200 day moving average is $11.66. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.71 and a current ratio of 1.71.

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

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

Large investors have recently bought and sold shares of the business. ARGA Investment Management LP bought a new position in shares of Invesco during the second quarter valued at about $1,251,000. Sigma Planning Corp lifted its position in shares of Invesco by 22.6% during the second quarter. Sigma Planning Corp now owns 31,155 shares of the asset manager’s stock valued at $335,000 after purchasing an additional 5,737 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Invesco by 6.4% during the second quarter. Pzena Investment Management LLC now owns 4,177,761 shares of the asset manager’s stock valued at $44,953,000 after purchasing an additional 250,420 shares in the last quarter. Prudential PLC lifted its position in shares of Invesco by 34.2% during the second quarter. Prudential PLC now owns 6,488,974 shares of the asset manager’s stock valued at $69,821,000 after purchasing an additional 1,654,273 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Invesco by 122.8% during the second quarter. Signaturefd LLC now owns 11,669 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 6,431 shares in the last quarter. Institutional investors and hedge funds own 65.21% 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.

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Analyst Recommendations for Invesco (NYSE:IVZ)

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