Invesco (NYSE:IVZ) Reaches New 52-Week High on Strong Earnings

Invesco Ltd. (NYSE:IVZ) shares hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $19.11 and last traded at $19.00, with a volume of 1139532 shares traded. The stock had previously closed at $17.75.

The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.31%. Invesco’s dividend payout ratio is currently -89.13%.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group raised their target price on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley lifted their target price on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Evercore ISI boosted their target price on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Invesco in a research report on Thursday, January 23rd. Finally, Barclays lowered their target price on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Mutual Life Insurance Co. purchased a new stake in shares of Invesco in the 3rd quarter valued at approximately $1,428,196,000. Azora Capital LP acquired a new stake in Invesco during the third quarter worth $27,289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Invesco by 131.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager’s stock valued at $15,982,000 after purchasing an additional 516,622 shares during the last quarter. Algert Global LLC grew its holdings in shares of Invesco by 1,207.8% during the 3rd quarter. Algert Global LLC now owns 481,270 shares of the asset manager’s stock worth $8,451,000 after purchasing an additional 444,470 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Invesco during the 3rd quarter worth about $4,889,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Stock Performance

The firm’s fifty day moving average is $17.60 and its 200-day moving average is $17.25. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $8.54 billion, a PE ratio of -20.65, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43.

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.