Invesco (NYSE:IVZ) Price Target Raised to $25.00

Invesco (NYSE:IVZ) had its price objective lifted by Bank of America from $23.00 to $25.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Several other equities analysts have also commented on IVZ. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective (up from $14.00) on shares of Invesco in a research report on Thursday, July 10th. The Goldman Sachs Group upped their price target on shares of Invesco from $16.25 to $16.75 and gave the company a “neutral” rating in a research note on Friday, June 27th. Cowen reiterated a “buy” rating on shares of Invesco in a research note on Thursday, September 18th. Morgan Stanley boosted their price objective on shares of Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, July 2nd. Finally, TD Cowen raised Invesco from a “hold” rating to a “buy” rating and upped their target price for the company from $17.50 to $25.00 in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.92.

Invesco Stock Up 1.9%

Invesco stock opened at $24.05 on Thursday. Invesco has a 1-year low of $11.60 and a 1-year high of $24.21. The business has a fifty day moving average price of $21.84 and a 200-day moving average price of $17.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.36 and a beta of 1.66.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 earnings per share. Equities research analysts forecast that Invesco will post 1.87 EPS for the current fiscal 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 given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, August 14th. Invesco’s dividend payout ratio (DPR) is currently 90.32%.

Insider Buying and Selling at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the business’s stock in a transaction dated 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 transaction, the director owned 29,855 shares of the company’s stock, valued at $660,392.60. The trade was a 77.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

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

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.