Invesco (NYSE:IVZ) Sets New 52-Week High – Should You Buy?

Invesco Ltd. (NYSE:IVZ)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $18.89 and last traded at $18.79, with a volume of 39238 shares changing hands. The stock had previously closed at $17.86.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays increased their price target on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Evercore ISI raised their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on shares of Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.38.

Invesco Stock Performance

The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $17.27 and a two-hundred day moving average price of $16.23. The firm has a market cap of $8.33 billion, a PE ratio of -19.41, a P/E/G ratio of 1.02 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was down 20.8% on a year-over-year basis. Research analysts forecast that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.82 annualized dividend and a yield of 4.43%. Invesco’s dividend payout ratio is presently -89.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IVZ. CIBC Asset Management Inc boosted its stake in Invesco by 8.3% during the third quarter. CIBC Asset Management Inc now owns 62,964 shares of the asset manager’s stock worth $1,106,000 after buying an additional 4,840 shares during the last quarter. KBC Group NV raised its holdings in shares of Invesco by 13.9% during the 3rd quarter. KBC Group NV now owns 24,714 shares of the asset manager’s stock worth $434,000 after acquiring an additional 3,014 shares during the period. Victory Capital Management Inc. boosted its position in shares of Invesco by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 141,469 shares of the asset manager’s stock valued at $2,484,000 after acquiring an additional 6,134 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Invesco by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,149 shares of the asset manager’s stock valued at $248,000 after purchasing an additional 1,167 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Invesco during the third quarter worth about $853,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.