Invesco (NYSE:IVZ) Price Target Cut to $17.00 by Analysts at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its target price cut by The Goldman Sachs Group from $18.50 to $17.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

A number of other analysts also recently weighed in on the stock. Morgan Stanley increased their price target on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Royal Bank of Canada started coverage on shares of Invesco in a report on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price target for the company. TD Cowen dropped their price objective on Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their target price on Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Finally, Barclays upped their price target on shares of Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.30.

Invesco Trading Down 12.0 %

IVZ stock opened at $13.81 on Thursday. The business has a fifty day moving average of $16.94 and a 200-day moving average of $17.39. The company has a market cap of $6.18 billion, a P/E ratio of 11.70, a PEG ratio of 0.98 and a beta of 1.43. Invesco has a twelve month low of $13.74 and a twelve month high of $19.55. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. As a group, equities research analysts expect that Invesco will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were given a dividend of $0.205 per share. The ex-dividend date was Friday, February 14th. This represents a $0.82 annualized dividend and a yield of 5.94%. Invesco’s dividend payout ratio (DPR) is presently 69.49%.

Institutional Investors Weigh In On Invesco

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Invesco by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager’s stock worth $45,684,000 after acquiring an additional 113,451 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Invesco during the fourth quarter worth approximately $735,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Invesco in the fourth quarter valued at approximately $424,000. Massachusetts Mutual Life Insurance Co. acquired a new stake in Invesco during the third quarter worth approximately $1,428,196,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Invesco by 41.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock worth $867,000 after acquiring an additional 14,489 shares during the period. Institutional investors and hedge funds 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.