Invesco (NYSE:IVZ) PT Raised to $19.00 at UBS Group

Invesco (NYSE:IVZ) had its price objective increased by UBS Group from $17.50 to $19.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

Several other research firms also recently commented on IVZ. Barclays began coverage on Invesco in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 target price for the company. Wells Fargo & Company lifted their price objective on Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their price target on shares of Invesco from $17.25 to $17.50 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley raised their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.38.

Invesco Trading Up 0.7 %

Shares of Invesco stock opened at $17.62 on Tuesday. Invesco has a 52-week low of $12.48 and a 52-week high of $18.79. The firm has a market capitalization of $7.93 billion, a PE ratio of -23.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.80 and a quick ratio of 5.80. The company’s fifty day moving average price is $17.14 and its two-hundred day moving average price is $16.11.

Invesco (NYSE:IVZ) last posted its earnings results 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. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The firm’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts expect that Invesco will post 1.66 EPS for the current year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.65%. Invesco’s dividend payout ratio (DPR) is currently -109.33%.

Hedge Funds Weigh In On Invesco

Several large investors have recently made changes to their positions in IVZ. Family Firm Inc. bought a new stake in Invesco during the 2nd quarter worth about $28,000. Sentry Investment Management LLC bought a new stake in shares of Invesco during the second quarter worth approximately $30,000. Allworth Financial LP boosted its stake in Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 1,806 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Invesco during the 1st quarter worth $52,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Invesco by 50.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock valued at $60,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors and hedge funds 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.