Invesco (NYSE:IVZ) Upgraded to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of Invesco (NYSE:IVZ) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Other analysts also recently issued research reports about the company. Citigroup raised their price objective on Invesco from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday. Zacks Research raised Invesco to a “hold” rating in a research report on Tuesday, August 12th. Evercore ISI reiterated a “positive” rating on shares of Invesco in a research report on Friday, September 5th. Morgan Stanley raised their target price on shares of Invesco from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. Finally, TD Cowen upgraded shares of Invesco from a “hold” rating to a “buy” rating and upped their price target for the company from $17.50 to $25.00 in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Invesco currently has a consensus rating of “Hold” and an average price target of $20.92.

Invesco Stock Performance

Shares of NYSE:IVZ opened at $24.05 on Thursday. The firm’s 50 day simple moving average is $21.84 and its 200 day simple moving average is $17.48. Invesco has a fifty-two week low of $11.60 and a fifty-two week high of $24.21. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 1.33 and a beta of 1.66. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. As a group, sell-side analysts forecast that Invesco will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, August 14th. Invesco’s dividend payout ratio (DPR) is currently 90.32%.

Insider Activity at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This represents a 77.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in Invesco by 1.5% in the 2nd quarter. State Street Corp now owns 22,260,704 shares of the asset manager’s stock valued at $351,051,000 after purchasing an additional 332,340 shares during the last quarter. AQR Capital Management LLC lifted its position in Invesco by 5.3% during the second quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager’s stock worth $182,491,000 after acquiring an additional 584,035 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Invesco by 0.8% during the second quarter. Geode Capital Management LLC now owns 11,107,421 shares of the asset manager’s stock worth $174,816,000 after acquiring an additional 88,094 shares during the period. Alliancebernstein L.P. increased its stake in shares of Invesco by 13.4% during the second quarter. Alliancebernstein L.P. now owns 7,924,717 shares of the asset manager’s stock worth $124,973,000 after purchasing an additional 939,365 shares during the period. Finally, Northern Trust Corp lifted its holdings in Invesco by 11.3% during the 1st quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager’s stock worth $107,455,000 after purchasing an additional 721,947 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.