Invesco’s (IVZ) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Invesco (NYSE:IVZ) in a report released on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $17.00 target price on the asset manager’s stock, down from their prior target price of $19.00.

Other analysts have also issued reports about the company. TD Cowen initiated coverage on Invesco in a report on Thursday, January 4th. They issued an outperform rating and a $21.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Invesco from $17.00 to $16.50 and set a neutral rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on Invesco from $20.00 to $19.00 and set an overweight rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada raised their target price on Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a research report on Thursday, January 18th. Finally, Morgan Stanley lifted their price objective on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a research report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $16.79.

Invesco Price Performance

Shares of NYSE:IVZ opened at $14.52 on Wednesday. Invesco has a 52-week low of $12.48 and a 52-week 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. The business has a 50-day moving average price of $15.73 and a 200-day moving average price of $15.44.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.08 billion. Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. As a group, equities research analysts predict that Invesco will post 1.75 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be given a $0.205 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a yield of 5.65%. This is an increase from Invesco’s previous quarterly dividend of $0.20. Invesco’s payout ratio is currently -106.67%.

Institutional Investors Weigh In On Invesco

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP grew its stake in shares of Invesco by 276.8% in the third quarter. Quantbot Technologies LP now owns 81,754 shares of the asset manager’s stock valued at $1,187,000 after buying an additional 60,057 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Invesco in the fourth quarter valued at $1,166,000. Northern Trust Corp grew its stake in shares of Invesco by 30.7% in the third quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock valued at $86,306,000 after buying an additional 1,395,023 shares in the last quarter. Raymond James & Associates grew its stake in shares of Invesco by 4.5% in the third quarter. Raymond James & Associates now owns 65,917 shares of the asset manager’s stock valued at $957,000 after buying an additional 2,846 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Invesco by 99.6% during the 3rd quarter. Hsbc Holdings PLC now owns 749,137 shares of the asset manager’s stock worth $10,912,000 after purchasing an additional 373,778 shares in the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

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.