Invesco (NYSE:IVZ) PT Raised to $17.50 at Wells Fargo & Company

Invesco (NYSE:IVZ) had its price target raised by Wells Fargo & Company from $16.50 to $17.50 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an underweight rating on the asset manager’s stock.

Several other research analysts have also recently weighed in on IVZ. The Goldman Sachs Group upped their price objective on Invesco from $17.25 to $17.50 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Royal Bank of Canada upped their price target on Invesco from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Barclays lifted their price objective on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.38.

Invesco Trading Down 3.0 %

NYSE:IVZ opened at $17.49 on Wednesday. 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 business’s 50-day simple moving average is $17.12 and its 200-day simple moving average is $16.10. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.79. The stock has a market capitalization of $7.87 billion, a PE ratio of -23.32, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. Sell-side analysts expect that Invesco will post 1.66 earnings per share for the current fiscal year.

Invesco Dividend Announcement

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 issued a $0.205 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.69%. Invesco’s payout ratio is -109.33%.

Institutional Trading of Invesco

Hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System increased its holdings in shares of Invesco by 10.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock worth $7,718,000 after acquiring an additional 44,417 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Invesco by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after purchasing an additional 58,332 shares during the period. Bessemer Group Inc. increased its holdings in shares of Invesco by 5,321.9% in the first quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock valued at $1,416,000 after purchasing an additional 83,767 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Invesco in the first quarter valued at about $1,061,000. Finally, Duality Advisers LP boosted its holdings in shares of Invesco by 323.0% during the 1st quarter. Duality Advisers LP now owns 95,689 shares of the asset manager’s stock worth $1,587,000 after buying an additional 73,065 shares during the period. 66.09% of the stock is 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.