Invesco (NYSE:IVZ) Given New $21.00 Price Target at BMO Capital Markets

Invesco (NYSE:IVZ) had its price objective lifted by BMO Capital Markets from $19.00 to $21.00 in a research note published on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the asset manager’s stock.

IVZ has been the subject of a number of other research reports. UBS Group lifted their price objective on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $20.00 price target (up previously from $18.00) on shares of Invesco in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their target price on shares of Invesco from $17.00 to $19.50 and gave the stock an “underweight” rating in a report on Wednesday. Finally, TD Cowen cut their price target on shares of Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.71.

Invesco Price Performance

NYSE:IVZ opened at $18.99 on Wednesday. Invesco has a 1-year low of $14.16 and a 1-year high of $19.49. The firm’s 50-day moving average price is $17.67 and its 200-day moving average price is $17.28. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share 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%. On average, sell-side analysts anticipate that Invesco will post 1.7 EPS for the current year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.32%. Invesco’s dividend payout ratio (DPR) is currently -89.13%.

Institutional Trading of Invesco

A number of hedge funds have recently bought and sold shares of the company. Massachusetts Mutual Life Insurance Co. bought a new stake in shares of Invesco during the 3rd quarter valued at about $1,428,196,000. State Street Corp boosted its holdings in shares of Invesco by 0.7% in the third quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock worth $369,823,000 after buying an additional 151,408 shares during the last quarter. Geode Capital Management LLC grew its position in Invesco by 0.9% during the third quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock valued at $179,666,000 after buying an additional 93,126 shares during the period. Fisher Asset Management LLC increased its holdings in Invesco by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after buying an additional 87,405 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Invesco by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,311,814 shares of the asset manager’s stock worth $75,715,000 after acquiring an additional 45,891 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.