Invesco (NYSE:IVZ) PT Lowered to $17.00 at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price target reduced by The Goldman Sachs Group from $17.50 to $17.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

A number of other analysts have also recently commented on IVZ. BMO Capital Markets reissued a market perform rating and issued a $17.00 price target (down from $18.00) on shares of Invesco in a research report on Wednesday, April 24th. TD Cowen cut their target price on Invesco from $21.00 to $19.50 and set a buy rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price target on Invesco from $17.00 to $16.50 and set a neutral rating for the company in a research report on Wednesday, April 24th. Morgan Stanley upped their price target on shares of Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods restated a market perform rating and set a $17.00 price objective (down from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Invesco has an average rating of Hold and a consensus target price of $16.81.

Invesco Stock Performance

Shares of Invesco stock opened at $15.05 on Tuesday. Invesco has a 12 month low of $12.48 and a 12 month high of $18.71. The firm has a market capitalization of $6.77 billion, a P/E ratio of -20.07, a P/E/G ratio of 1.14 and a beta of 1.47. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $15.20 and a two-hundred day simple moving average of $15.89.

Invesco (NYSE:IVZ) last issued 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). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business earned $0.38 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Invesco will post 1.64 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Monday, May 13th. This is a positive change from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 5.45%. Invesco’s payout ratio is currently -109.33%.

Institutional Trading of Invesco

Large investors have recently modified their holdings of the company. Gables Capital Management Inc. boosted its position in Invesco by 74.9% in 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 last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Invesco by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock worth $53,000 after buying an additional 766 shares during the last quarter. Alaska Permanent Fund Corp grew its position in Invesco by 0.5% during the fourth quarter. Alaska Permanent Fund Corp now owns 145,267 shares of the asset manager’s stock valued at $2,592,000 after buying an additional 767 shares during the period. MCF Advisors LLC increased its holdings in Invesco by 16.1% during the fourth quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock valued at $110,000 after buying an additional 855 shares during the last quarter. Finally, Wright Investors Service Inc. raised its position in Invesco by 2.1% in the first quarter. Wright Investors Service Inc. now owns 46,787 shares of the asset manager’s stock worth $776,000 after acquiring an additional 944 shares during the period. Institutional investors own 66.09% 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.