Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Invesco (NYSE:IVZ)

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Invesco (NYSE:IVZ) in a research note released on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $17.00 price objective on the asset manager’s stock, down from their prior price objective of $19.00.

A number of other brokerages have also recently weighed in on IVZ. StockNews.com upgraded shares of Invesco from a sell rating to a hold rating in a report on Friday, February 23rd. Morgan Stanley lifted their price objective on shares of Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a report on Wednesday, April 17th. TheStreet cut shares of Invesco from a b- rating to a c rating in a report on Friday, February 23rd. Wells Fargo & Company dropped their price objective on shares of Invesco from $20.00 to $19.00 and set an overweight rating for the company in a report on Wednesday, January 24th. Finally, The Goldman Sachs Group dropped their price objective on shares of Invesco from $18.00 to $17.75 and set a neutral rating for the company in a report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Invesco has a consensus rating of Hold and a consensus target price of $16.79.

Invesco Price Performance

Shares of IVZ opened at $14.68 on Wednesday. Invesco has a 1-year low of $12.48 and a 1-year high of $18.71. The firm has a 50-day simple moving average of $15.69 and a two-hundred day simple moving average of $15.44. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.54.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. Invesco’s revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that Invesco will post 1.7 EPS for the current year.

Invesco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.59%. The ex-dividend date is Monday, May 13th. This is a boost from Invesco’s previous quarterly dividend of $0.20. Invesco’s payout ratio is -106.67%.

Institutional Trading of Invesco

Institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC purchased a new stake in shares of Invesco during the 3rd quarter worth approximately $25,000. Gables Capital Management Inc. lifted its position in shares of Invesco by 74.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after buying an additional 700 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Invesco during the 3rd quarter worth approximately $32,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the 3rd quarter worth approximately $36,000. Finally, Pinnacle Bancorp Inc. lifted its position in shares of Invesco by 100.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after buying an additional 1,000 shares during the last quarter. 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.