Invesco Ltd. (NYSE:IVZ) announced a quarterly dividend on Monday, July 30th, Wall Street Journal reports. Shareholders of record on Thursday, August 16th will be given a dividend of 0.30 per share by the asset manager on Tuesday, September 4th. This represents a $1.20 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Wednesday, August 15th.
Invesco has increased its dividend by an average of 5.7% annually over the last three years and has raised its dividend every year for the last 9 years. Invesco has a dividend payout ratio of 44.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Invesco to earn $2.89 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 41.5%.
IVZ stock opened at $25.49 on Friday. Invesco has a 12-month low of $24.76 and a 12-month high of $38.43. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 1.04 and a beta of 1.70.
Invesco (NYSE:IVZ) last released its earnings results on Thursday, July 26th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $974.00 million during the quarter, compared to the consensus estimate of $960.91 million. Invesco had a net margin of 21.64% and a return on equity of 12.70%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. research analysts expect that Invesco will post 2.72 earnings per share for the current fiscal year.
In other news, major shareholder Ltd. Invesco bought 2,127,659 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were purchased at an average price of $4.69 per share, for a total transaction of $9,978,720.71. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.
A number of research firms have recently weighed in on IVZ. UBS Group raised their price target on shares of Invesco from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 24th. ValuEngine downgraded shares of Invesco from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. cut their price target on shares of Invesco from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Keefe, Bruyette & Woods downgraded shares of Invesco from an “outperform” rating to a “market perform” rating in a report on Friday, July 13th. Finally, Credit Suisse Group cut their price target on shares of Invesco from $41.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, July 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $36.36.
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.
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