Invesco Ltd. (NYSE:IVZ) has been given an average recommendation of “Hold” by the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $30.60.
IVZ has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered Invesco from an “outperform” rating to a “market perform” rating in a research note on Friday, July 13th. Credit Suisse Group reduced their target price on Invesco from $41.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, July 13th. Wells Fargo & Co reduced their target price on Invesco from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, July 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $35.00 target price on shares of Invesco in a report on Friday, July 27th. Finally, JPMorgan Chase & Co. cut their price target on Invesco from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, July 27th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in shares of Invesco by 3.0% in the first quarter. Russell Investments Group Ltd. now owns 176,678 shares of the asset manager’s stock worth $5,626,000 after purchasing an additional 5,204 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Invesco during the 1st quarter worth about $366,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Invesco by 34.3% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,687 shares of the asset manager’s stock worth $628,000 after buying an additional 5,027 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Invesco by 40.6% during the 1st quarter. LPL Financial LLC now owns 69,064 shares of the asset manager’s stock worth $2,211,000 after buying an additional 19,931 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Invesco by 266.8% during the 1st quarter. Millennium Management LLC now owns 572,865 shares of the asset manager’s stock worth $18,337,000 after buying an additional 416,666 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.
Invesco (NYSE:IVZ) last released its earnings results on Thursday, October 18th. The asset manager reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $966.90 million during the quarter, compared to analyst estimates of $972.49 million. Invesco had a return on equity of 12.25% and a net margin of 21.66%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. As a group, equities analysts predict that Invesco will post 2.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.20 dividend on an annualized basis and a yield of 5.70%. Invesco’s payout ratio is 44.44%.
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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