Invesco (NYSE:IVZ) PT Lowered to $19.50 at TD Cowen

Invesco (NYSE:IVZ) had its price objective decreased by TD Cowen from $21.00 to $19.50 in a research note released on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

Several other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Invesco from $17.75 to $16.75 and set a neutral rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of Invesco from a sell rating to a hold rating in a research report on Friday, February 23rd. Wells Fargo & Company reduced their price target on shares of Invesco from $20.00 to $19.00 and set an overweight rating on the stock in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $17.00 price target (down previously from $19.00) on shares of Invesco in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a research report on Thursday, January 18th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $16.79.

Invesco Trading Up 1.1 %

Shares of Invesco stock opened at $14.68 on Wednesday. Invesco has a 12-month low of $12.48 and a 12-month 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 company’s fifty day simple moving average is $15.69 and its two-hundred day simple moving average is $15.44.

Invesco (NYSE:IVZ) last announced its quarterly 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). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. Invesco’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. Sell-side analysts predict that Invesco will post 1.7 EPS for the current year.

Invesco Increases Dividend

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

Hedge Funds Weigh In On Invesco

Several institutional investors have recently bought and sold shares of IVZ. Gables Capital Management Inc. lifted its holdings in shares of Invesco by 74.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after acquiring an additional 700 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Invesco in the 3rd quarter worth about $25,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Invesco by 100.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after acquiring an additional 1,000 shares during the last quarter. Quarry LP bought a new stake in shares of Invesco in the 4th quarter worth about $37,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of Invesco in the 3rd quarter worth about $32,000. 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.