Invesco (NYSE:IVZ) Shares Gap Up After Better-Than-Expected Earnings

Invesco Ltd. (NYSE:IVZ)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.46, but opened at $13.32. Invesco shares last traded at $13.68, with a volume of 1,045,738 shares.

The asset manager reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. Invesco had a return on equity of 8.18% and a net margin of 12.77%.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date was Friday, February 14th. Invesco’s dividend payout ratio is presently 69.49%.

Analyst Ratings Changes

Several research analysts recently weighed in on IVZ shares. The Goldman Sachs Group lowered their price objective on Invesco from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Argus boosted their target price on Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Evercore ISI lowered their price target on Invesco from $18.00 to $13.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Morgan Stanley lowered their target price on Invesco from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Finally, TD Cowen cut shares of Invesco from a “buy” rating to a “hold” rating and dropped their price objective for the company from $22.00 to $13.00 in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.03.

Institutional Trading of Invesco

Several large investors have recently made changes to their positions in IVZ. Norges Bank acquired a new position in Invesco in the fourth quarter valued at approximately $57,459,000. AQR Capital Management LLC raised its stake in shares of Invesco by 38.5% in the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock valued at $142,385,000 after purchasing an additional 2,264,551 shares during the period. CIBC Private Wealth Group LLC raised its position in Invesco by 2,385.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock valued at $29,301,000 after buying an additional 1,642,645 shares during the last quarter. Amundi boosted its position in Invesco by 124.6% during the 4th quarter. Amundi now owns 2,653,259 shares of the asset manager’s stock worth $45,424,000 after acquiring an additional 1,472,178 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Invesco by 58.6% in the fourth quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager’s stock valued at $58,289,000 after purchasing an additional 1,232,359 shares during the last quarter. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Performance

The firm has a market cap of $6.19 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. The stock’s 50-day moving average price is $15.29 and its 200 day moving average price is $16.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91.

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.