Invesco (NYSE:IVZ) Hits New 52-Week High – Here’s Why

Invesco Ltd. (NYSE:IVZ)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.67 and last traded at $31.5560, with a volume of 215058 shares traded. The stock had previously closed at $30.91.

Analysts Set New Price Targets

IVZ has been the subject of several research reports. Morgan Stanley lifted their target price on Invesco from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. upped their price target on Invesco from $29.00 to $29.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Wall Street Zen raised Invesco from a “hold” rating to a “buy” rating in a research report on Saturday. Argus reaffirmed a “hold” rating on shares of Invesco in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Invesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Invesco currently has a consensus rating of “Hold” and an average target price of $29.88.

Invesco Stock Up 2.4%

The business’s fifty day moving average price is $28.30 and its 200 day moving average price is $26.71. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of -46.53, a PEG ratio of 0.47 and a beta of 1.62. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.79.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.03%. Invesco’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. On average, equities analysts expect that Invesco Ltd. will post 2.81 EPS for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Friday, August 14th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.7%. Invesco’s dividend payout ratio (DPR) is currently -126.47%.

Institutional Investors Weigh In On Invesco

Several hedge funds have recently modified their holdings of the stock. Invesco Ltd. purchased a new stake in shares of Invesco in the fourth quarter valued at approximately $230,391,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Invesco by 368.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,729,393 shares of the asset manager’s stock valued at $176,782,000 after purchasing an additional 5,292,867 shares in the last quarter. Norges Bank acquired a new stake in shares of Invesco in the fourth quarter valued at about $102,523,000. Samlyn Capital LLC purchased a new stake in Invesco during the third quarter worth about $44,567,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Invesco by 58.1% during 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 buying an additional 1,871,666 shares in the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

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.