Morgan Stanley Boosts Invesco (NYSE:IVZ) Price Target to $17.00

Invesco (NYSE:IVZ) had its price objective hoisted by Morgan Stanley from $16.00 to $17.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group reduced their target price on Invesco from $18.00 to $17.75 and set a neutral rating on the stock in a research note on Thursday, April 11th. UBS Group reduced their target price on Invesco from $18.00 to $17.00 and set a neutral rating on the stock in a research note on Monday, January 29th. Keefe, Bruyette & Woods reduced their target price on Invesco from $21.00 to $19.50 and set an outperform rating on the stock in a research note on Wednesday, January 24th. TheStreet lowered Invesco from a b- rating to a c rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Company reduced their target price on Invesco from $20.00 to $19.00 and set an overweight rating on the stock in a research note on Wednesday, January 24th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $17.46.

Invesco Trading Up 0.7 %

IVZ opened at $15.37 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.01 and a current ratio of 5.01. The stock’s 50 day simple moving average is $15.77 and its 200 day simple moving average is $15.40. Invesco has a 1-year low of $12.48 and a 1-year high of $18.71.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Invesco had a positive return on equity of 7.93% and a negative net margin of 1.70%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Invesco will post 1.76 earnings per share for the current year.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Thursday, February 15th. Invesco’s dividend payout ratio (DPR) is currently -108.11%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IVZ. State Street Corp raised its position in shares of Invesco by 58.2% in the 3rd quarter. State Street Corp now owns 25,414,143 shares of the asset manager’s stock worth $348,174,000 after buying an additional 9,345,810 shares during the period. Trian Fund Management L.P. raised its position in shares of Invesco by 18.8% in the 1st quarter. Trian Fund Management L.P. now owns 54,034,034 shares of the asset manager’s stock worth $1,404,885,000 after buying an additional 8,560,175 shares during the period. Vanguard Group Inc. raised its position in shares of Invesco by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 52,105,335 shares of the asset manager’s stock worth $1,201,550,000 after buying an additional 6,384,917 shares during the period. Point72 Asset Management L.P. raised its position in shares of Invesco by 1,411.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock worth $67,016,000 after buying an additional 3,507,900 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Invesco in the 4th quarter worth $61,795,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

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.