Invesco (NYSE:IVZ) Price Target Raised to $29.50

Invesco (NYSE:IVZ) had its price target hoisted by JPMorgan Chase & Co. from $29.00 to $29.50 in a research report report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

Several other research firms have also recently weighed in on IVZ. Weiss Ratings upgraded Invesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Barclays raised their price objective on Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday. Evercore set a $32.00 target price on Invesco in a research report on Friday, July 10th. Argus reissued a “hold” rating on shares of Invesco in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group raised shares of Invesco to a “hold” rating in a report on Tuesday, June 30th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.88.

Invesco Price Performance

Invesco stock opened at $29.64 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.45 and a quick ratio of 1.45. Invesco has a one year low of $20.08 and a one year high of $31.02. The firm has a market cap of $13.14 billion, a PE ratio of -43.59, a price-to-earnings-growth ratio of 0.47 and a beta of 1.62. The stock’s fifty day moving average price is $28.22 and its two-hundred day moving average price is $26.70.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.03%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. Invesco’s revenue was up 20.5% compared to the same quarter last year. As a group, research analysts expect that Invesco will post 2.81 EPS for the current fiscal year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th will be given a $0.215 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.86 annualized dividend and a yield of 2.9%. Invesco’s dividend payout ratio (DPR) is currently -126.47%.

Institutional Trading of Invesco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. acquired a new position in Invesco in the 4th quarter valued at approximately $230,391,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Invesco by 368.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,729,393 shares of the asset manager’s stock worth $176,782,000 after purchasing an additional 5,292,867 shares during the period. Norges Bank acquired a new position in shares of Invesco during the fourth quarter worth $102,523,000. Samlyn Capital LLC bought a new stake in shares of Invesco in the third quarter worth $44,567,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of Invesco by 58.1% in the second quarter. Balyasny Asset Management L.P. now owns 5,092,189 shares of the asset manager’s stock worth $80,304,000 after purchasing an additional 1,871,666 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Invesco Company Profile

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.