Invesco (NYSE:IVZ) Reaches New 12-Month High – Still a Buy?

Invesco Ltd. (NYSE:IVZ)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $30.32 and last traded at $30.3280, with a volume of 842138 shares traded. The stock had previously closed at $28.73.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IVZ. Argus reaffirmed a “hold” rating on shares of Invesco in a research report on Wednesday, April 29th. TD Cowen lifted their target price on shares of Invesco from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Invesco in a research note on Thursday, July 2nd. BMO Capital Markets reduced their target price on Invesco from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, April 10th. Finally, The Goldman Sachs Group increased their price target on Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $29.08.

Invesco Trading Down 0.1%

The stock’s 50 day simple moving average is $27.73 and its two-hundred day simple moving average is $26.52. The stock has a market capitalization of $13.41 billion, a PE ratio of -20.59, a PEG ratio of 0.50 and a beta of 1.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.45.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. On average, sell-side analysts expect that Invesco Ltd. will post 2.74 EPS for the current year.

Invesco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th were given a $0.215 dividend. This is an increase from Invesco’s previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. Invesco’s dividend payout ratio (DPR) is -58.50%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. grew its stake in shares of Invesco by 1.8% during the 2nd quarter. Contravisory Investment Management Inc. now owns 49,852 shares of the asset manager’s stock worth $1,316,000 after acquiring an additional 882 shares during the period. Gradient Investments LLC purchased a new stake in Invesco during the second quarter valued at about $742,000. Sonoma Allocations LLC purchased a new stake in Invesco during the second quarter valued at about $11,797,000. Czech National Bank boosted its position in Invesco by 4.3% during the second quarter. Czech National Bank now owns 126,179 shares of the asset manager’s stock worth $3,330,000 after purchasing an additional 5,258 shares during the period. Finally, GAMMA Investing LLC boosted its position in Invesco by 4.8% during the second quarter. GAMMA Investing LLC now owns 39,656 shares of the asset manager’s stock worth $1,047,000 after purchasing an additional 1,799 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.