Invesco (NYSE:IVZ) Earns “Market Perform” Rating from BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of Invesco (NYSE:IVZ) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $17.00 target price on the asset manager’s stock, down from their prior target price of $18.00.

Several other research analysts have also recently weighed in on the company. StockNews.com raised Invesco from a sell rating to a hold rating in a research report on Friday, February 23rd. Royal Bank of Canada upped their price objective on Invesco from $14.00 to $16.00 and gave the stock a sector perform rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. reduced their price objective on Invesco from $17.00 to $16.50 and set a neutral rating for the company in a research report on Wednesday. TheStreet cut Invesco from a b- rating to a c rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company reduced their price objective on Invesco from $20.00 to $19.00 and set an overweight rating for the company in a research report on Wednesday, January 24th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $16.79.

Invesco Stock Up 1.1 %

NYSE:IVZ opened at $14.68 on Wednesday. Invesco has a 1 year low of $12.48 and a 1 year high of $18.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.01 and a quick ratio of 5.01. The stock has a 50-day moving average price of $15.69 and a two-hundred day moving average price of $15.44.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Invesco will post 1.7 EPS for the current year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.205 per share. The ex-dividend date is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%. This is a positive change from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio (DPR) is -106.67%.

Hedge Funds Weigh In On Invesco

Large investors have recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of Invesco during the third quarter worth approximately $25,000. Gables Capital Management Inc. increased its stake in shares of Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after purchasing an additional 700 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Invesco during the third quarter worth approximately $32,000. Sentry Investment Management LLC bought a new position in shares of Invesco during the third quarter worth approximately $36,000. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Invesco by 100.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 66.09% of the company’s stock.

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.