Invesco (NYSE:IVZ) Sets New 1-Year High – Here’s Why

Invesco Ltd. (NYSE:IVZ)’s stock price hit a new 52-week high on Thursday . The company traded as high as $18.31 and last traded at $18.30, with a volume of 125160 shares traded. The stock had previously closed at $18.17.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Evercore ISI raised their price target on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company upped their price target on Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.42.

Invesco Trading Up 1.9 %

The stock has a 50 day moving average of $17.03 and a 200 day moving average of $16.07. 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 firm has a market cap of $8.38 billion, a P/E ratio of -24.83, a PEG ratio of 1.10 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. Invesco’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. As a group, equities research analysts predict that Invesco Ltd. will post 1.66 EPS for the current year.

Invesco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were paid a $0.205 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.40%. Invesco’s dividend payout ratio (DPR) is -109.33%.

Hedge Funds Weigh In On Invesco

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Invesco by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after buying an additional 3,349,069 shares during the last quarter. Swedbank AB bought a new position in Invesco during the 1st quarter worth approximately $41,475,000. Ossiam increased its stake in Invesco by 2,712.9% in the 1st quarter. Ossiam now owns 680,157 shares of the asset manager’s stock worth $11,284,000 after purchasing an additional 655,977 shares during the period. Marshall Wace LLP lifted its position in Invesco by 115.7% in the second quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock valued at $18,269,000 after purchasing an additional 654,960 shares during the last quarter. Finally, M&G Plc purchased a new stake in shares of Invesco during the first quarter valued at approximately $8,438,000. Hedge funds and other institutional investors 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.