Invesco (NYSE:IVZ) Hits New 1-Year High – Should You Buy?

Invesco Ltd. (NYSE:IVZ)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $30.32 and last traded at $30.3280, with a volume of 842138 shares changing hands. The stock had previously closed at $28.73.

Wall Street Analysts Forecast Growth

IVZ has been the subject of several research reports. TD Cowen upped their price objective on shares of Invesco from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Morgan Stanley boosted their price target on shares of Invesco from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Jefferies Financial Group upgraded Invesco to a “hold” rating in a research report on Tuesday, June 30th. Evercore set a $32.00 target price on shares of Invesco in a report on Friday. Finally, The Goldman Sachs Group raised their price objective on shares of Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.08.

Invesco Stock Performance

The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $27.60 and its two-hundred day moving average is $26.48. The company has a market cap of $13.30 billion, a PE ratio of -20.42, a PEG ratio of 0.51 and a beta of 1.62.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities research analysts anticipate that Invesco Ltd. will post 2.7 EPS for the current year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Invesco’s previous quarterly dividend of $0.21. Invesco’s dividend payout ratio is -58.50%.

Hedge Funds Weigh In On Invesco

A number of large investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC bought a new stake in Invesco during the 4th quarter valued at $33,254,000. SG Americas Securities LLC grew its holdings in shares of Invesco by 2,834.7% during the fourth quarter. SG Americas Securities LLC now owns 295,352 shares of the asset manager’s stock valued at $7,759,000 after buying an additional 285,288 shares during the last quarter. Maltese Capital Management LLC increased its holdings in shares of Invesco by 110.0% in the third quarter. Maltese Capital Management LLC now owns 315,000 shares of the asset manager’s stock valued at $7,226,000 after purchasing an additional 165,000 shares during the period. Contravisory Investment Management Inc. increased its holdings in Invesco by 1,165.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 49,142 shares of the asset manager’s stock worth $1,291,000 after buying an additional 45,260 shares during the period. Finally, Park Capital Management LLC WI purchased a new position in shares of Invesco during the fourth quarter worth $1,204,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.