Invesco (NYSE:IVZ) Price Target Cut to $16.00 by Analysts at JPMorgan Chase & Co.

Invesco (NYSE:IVZ) had its price objective trimmed by JPMorgan Chase & Co. from $19.00 to $16.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

A number of other equities research analysts have also issued reports on IVZ. The Goldman Sachs Group cut their price target on Invesco from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank of Canada began coverage on Invesco in a research report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 target price for the company. Evercore ISI lowered their price target on Invesco from $18.00 to $13.00 and set an “in-line” rating on the stock in a report on Friday, April 11th. Bank of America cut their price objective on shares of Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, UBS Group boosted their target price on shares of Invesco from $17.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.30.

Invesco Trading Down 3.2 %

Shares of NYSE:IVZ opened at $12.66 on Wednesday. The stock has a 50 day moving average of $15.65 and a 200 day moving average of $17.06. The company has a market cap of $5.67 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. Invesco has a 12-month low of $11.60 and a 12-month high of $19.55. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49.

Invesco (NYSE:IVZ) last posted its quarterly earnings results 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 net margin of 12.77% and a return on equity of 8.18%. As a group, equities research analysts expect that Invesco will post 1.87 EPS for the current year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 6.48%. The ex-dividend date was Friday, February 14th. Invesco’s dividend payout ratio is 69.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MML Investors Services LLC boosted its holdings in shares of Invesco by 21.7% in the 3rd quarter. MML Investors Services LLC now owns 25,868 shares of the asset manager’s stock worth $454,000 after purchasing an additional 4,620 shares during the period. Public Employees Retirement System of Ohio lifted its position in Invesco by 2.0% in the third quarter. Public Employees Retirement System of Ohio now owns 142,158 shares of the asset manager’s stock worth $2,496,000 after buying an additional 2,846 shares during the last quarter. Barclays PLC boosted its stake in Invesco by 1.5% during the third quarter. Barclays PLC now owns 2,364,174 shares of the asset manager’s stock worth $41,516,000 after buying an additional 35,031 shares during the period. Sanctuary Advisors LLC increased its position in Invesco by 255.2% during the third quarter. Sanctuary Advisors LLC now owns 39,784 shares of the asset manager’s stock valued at $706,000 after acquiring an additional 28,584 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco in the third quarter valued at $35,000. 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.