Invesco (NYSE:IVZ) PT Lowered to $16.75 at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price target decreased by The Goldman Sachs Group from $17.75 to $16.75 in a research report sent to investors on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

IVZ has been the topic of several other research reports. Wells Fargo & Company decreased their price target on Invesco from $20.00 to $19.00 and set an overweight rating on the stock in a report on Wednesday, January 24th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $17.00 price target (down previously from $19.00) on shares of Invesco in a report on Wednesday. StockNews.com upgraded Invesco from a sell rating to a hold rating in a report on Friday, February 23rd. TD Cowen started coverage on Invesco in a report on Thursday, January 4th. They set an outperform rating and a $21.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Invesco from $17.00 to $16.50 and set a neutral rating on the stock in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $16.79.

Invesco Stock Up 1.1 %

Shares of NYSE:IVZ opened at $14.68 on Wednesday. The business has a fifty day moving average of $15.69 and a 200-day moving average of $15.44. Invesco has a twelve month low of $12.48 and a twelve month high of $18.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.01 and a current ratio of 5.01.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. Invesco’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS. Analysts forecast that Invesco will post 1.7 earnings per share for the current fiscal year.

Invesco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%. This is a positive change from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio (DPR) is currently -106.67%.

Institutional Investors Weigh In On Invesco

Hedge funds have recently modified their holdings of the business. Orion Capital Management LLC acquired a new stake in shares of Invesco during the third quarter worth about $25,000. Gables Capital Management Inc. raised its position in shares of Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after purchasing an additional 700 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Invesco during the third quarter worth about $32,000. Sentry Investment Management LLC acquired a new stake in shares of Invesco during the third quarter worth about $36,000. Finally, Pinnacle Bancorp Inc. raised its position in shares of Invesco by 100.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.