Invesco (NYSE:IVZ) Stock Gets Price Target Trim from TD Cowen

Invesco (NYSE:IVZ) had its price target reduced by TD Cowen from $39.00 to $38.00 in a research note released on Monday,Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

Several other research firms have also commented on IVZ. Wall Street Zen raised shares of Invesco from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of Invesco from $29.00 to $29.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Jefferies Financial Group upgraded shares of Invesco to a “hold” rating in a research report on Tuesday, June 30th. UBS Group initiated coverage on Invesco in a report on Tuesday, October 6th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Invesco in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.12.

Invesco Trading Down 3.5%

Shares of Invesco stock opened at $27.90 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of -41.02, a price-to-earnings-growth ratio of 0.42 and a beta of 1.65. The business has a fifty day simple moving average of $31.38 and a 200-day simple moving average of $28.66. Invesco has a fifty-two week low of $20.67 and a fifty-two week high of $33.66.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business posted $0.36 earnings per share. On average, equities analysts forecast that Invesco will post 2.83 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Friday, August 14th were issued a dividend of $0.2150 per share. The ex-dividend date was Friday, August 14th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.1%. Invesco’s payout ratio is currently -126.47%.

Insiders Place Their Bets

In other news, Director Andrew Tak Shing Lo sold 100,840 shares of Invesco stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $32.20, for a total transaction of $3,247,048.00. Following the transaction, the director owned 812,477 shares in the company, valued at approximately $26,161,759.40. The trade was a 11.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephanie Butcher sold 45,095 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $32.28, for a total value of $1,455,666.60. Following the transaction, the director directly owned 10,205 shares in the company, valued at $329,417.40. The trade was a 81.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 222,540 shares of company stock worth $7,227,167. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Invesco

Several institutional investors and hedge funds have recently bought and sold shares of the business. Delta Global Management LP acquired a new stake in shares of Invesco in the 4th quarter valued at $35,112,000. Engineers Gate Manager LP increased its position in Invesco by 1,687.0% during the fourth quarter. Engineers Gate Manager LP now owns 1,061,641 shares of the asset manager’s stock worth $27,889,000 after buying an additional 1,002,231 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Invesco by 2,633.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager’s stock worth $23,330,000 after acquiring an additional 925,300 shares in the last quarter. Moore Capital Management LP bought a new position in shares of Invesco in the 4th quarter valued at approximately $17,603,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Invesco by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock worth $518,836,000 after purchasing an additional 596,434 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across public and private markets and serves clients through a range of investment strategies.

Its offerings include exchange-traded funds, mutual funds, separately managed accounts, institutional mandates and alternative investments. Invesco provides exposure to equities, fixed income, commodities, multi-asset strategies and other asset classes, with both actively managed and index-based investment solutions.

Headquartered in Atlanta, Georgia, Invesco serves clients across North America, Europe, Asia-Pacific and other international markets through offices and investment teams around the world.