Invesco (NYSE:IVZ) Sets New 12-Month High – Time to Buy?

Invesco Ltd. (NYSE:IVZ)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $25.21 and last traded at $25.3460, with a volume of 770533 shares. The stock had previously closed at $24.39.

Analysts Set New Price Targets

IVZ has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Invesco in a research report on Monday. Royal Bank Of Canada boosted their price target on Invesco from $23.00 to $25.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. The Goldman Sachs Group reduced their price objective on Invesco from $26.50 to $25.50 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Zacks Research upgraded Invesco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Evercore ISI increased their price target on shares of Invesco from $24.00 to $26.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.63.

Invesco Stock Performance

The company has a market capitalization of $11.38 billion, a PE ratio of 17.45, a PEG ratio of 0.64 and a beta of 1.66. The firm has a 50-day moving average of $23.49 and a two-hundred day moving average of $20.34. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.85.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 9.11%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Friday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, November 14th. Invesco’s payout ratio is presently 57.14%.

Insiders Place Their Bets

In related news, Director Douglas J. Sharp sold 160,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the transaction, the director directly owned 192 shares in the company, valued at approximately $4,523.52. The trade was a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the transaction, the director directly owned 29,855 shares in the company, valued at $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.21% of the company’s stock.

Institutional Trading of Invesco

Several large investors have recently added to or reduced their stakes in IVZ. Goldman Sachs Group Inc. boosted its position in shares of Invesco by 99.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock valued at $106,598,000 after acquiring an additional 3,507,150 shares during the last quarter. First Trust Advisors LP increased its stake in Invesco by 5,065.4% during the second quarter. First Trust Advisors LP now owns 3,380,933 shares of the asset manager’s stock worth $53,317,000 after acquiring an additional 3,315,480 shares during the last quarter. Norges Bank purchased a new stake in Invesco in the 2nd quarter valued at about $51,838,000. AQR Capital Management LLC lifted its position in Invesco by 35.4% in the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock valued at $165,262,000 after buying an additional 2,882,928 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of Invesco during the third quarter valued at about $55,719,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.