Invesco (NYSE:IVZ) Stock Dropped to “Hold” by Wall Street Zen

Wall Street Zen downgraded shares of Invesco (NYSE:IVZ) from a buy rating to a hold rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Evercore set a $34.00 target price on Invesco in a research note on Friday, October 9th. Zacks Research cut Invesco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Royal Bank Of Canada raised their price target on Invesco from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a report on Friday, September 25th. Finally, TD Cowen dropped their price target on Invesco from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.12.

Invesco Price Performance

NYSE IVZ opened at $28.19 on Friday. The firm’s fifty day simple moving average is $31.25 and its two-hundred day simple moving average is $28.74. The firm has a market capitalization of $12.50 billion, a P/E ratio of -41.46, a P/E/G ratio of 0.45 and a beta of 1.65. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. Invesco has a 12-month low of $20.67 and a 12-month high of $33.66.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Analysts forecast that Invesco will post 2.82 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were paid a dividend of $0.2150 per share. This represents a $0.86 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, August 14th. Invesco’s payout ratio is presently -126.47%.

Insider Buying and Selling at Invesco

In other news, Director Andrew Tak Shing Lo sold 100,840 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $32.20, for a total value of $3,247,048.00. Following the sale, the director directly owned 812,477 shares of the company’s stock, valued at $26,161,759.40. This represents a 11.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laura Dukes sold 31,075 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the completion of the sale, the chief financial officer owned 259,183 shares in the company, valued at $8,594,508.28. The trade was a 10.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,540 shares of company stock valued at $7,227,167 over the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Invesco

Several hedge funds have recently added to or reduced their stakes in IVZ. Teachers Retirement System of The State of Kentucky lifted its position in shares of Invesco by 2,633.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager’s stock valued at $23,330,000 after buying an additional 925,300 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Invesco by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock valued at $518,836,000 after acquiring an additional 596,434 shares during the period. Bank of America Corp DE grew its stake in Invesco by 28.9% in the 1st quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock valued at $64,473,000 after acquiring an additional 595,797 shares during the period. Sonoma Allocations LLC purchased a new stake in Invesco in the 2nd quarter worth $11,797,000. Finally, Engineers Gate Manager LP increased its holdings in Invesco by 47.0% in the 2nd quarter. Engineers Gate Manager LP now owns 1,354,613 shares of the asset manager’s stock worth $35,748,000 after acquiring an additional 433,287 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.

Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.