Brokerages Set Invesco Ltd. (NYSE:IVZ) PT at $21.72

Invesco Ltd. (NYSE:IVZ) has earned an average recommendation of “Hold” from the eighteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.7167.

IVZ has been the topic of a number of analyst reports. Morgan Stanley reaffirmed a “positive” rating on shares of Invesco in a research note on Monday, October 6th. TD Cowen raised shares of Invesco from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.50 to $25.00 in a research note on Monday, July 21st. BMO Capital Markets initiated coverage on shares of Invesco in a research note on Friday, October 3rd. They issued an “outperform” rating and a $28.00 price objective on the stock. Cowen reaffirmed a “buy” rating on shares of Invesco in a research note on Thursday, September 18th. Finally, Wells Fargo & Company raised shares of Invesco from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $14.50 to $18.00 in a research note on Friday, July 11th.

Insider Transactions at Invesco

In related news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the transaction, the director directly owned 29,855 shares of the company’s stock, valued at $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Invesco Stock Performance

IVZ opened at $22.80 on Thursday. Invesco has a fifty-two week low of $11.60 and a fifty-two week high of $24.54. 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 firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 0.81 and a beta of 1.66. The company’s 50 day moving average price is $22.31 and its two-hundred day moving average price is $18.05.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). Invesco had a return on equity of 8.60% and a net margin of 10.68%.The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm earned $0.43 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Invesco will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.7%. Invesco’s dividend payout ratio is currently 90.32%.

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.