Invesco (NYSE:IVZ) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Invesco (NYSE:IVZ) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Other analysts have also issued research reports about the company. Barclays upped their target price on Invesco from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Invesco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods began coverage on Invesco in a research report on Wednesday, September 9th. They issued an “outperform” rating and a $39.00 price target for the company. Jefferies Financial Group upgraded Invesco to a “hold” rating in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. raised their price objective on Invesco from $29.00 to $29.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.54.

Invesco Trading Up 0.9%

NYSE:IVZ opened at $30.97 on Friday. Invesco has a one year low of $20.67 and a one year high of $33.66. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $13.73 billion, a P/E ratio of -45.55, a P/E/G ratio of 0.45 and a beta of 1.63. The firm has a 50-day simple moving average of $31.43 and a 200-day simple moving average of $28.05.

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

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were paid a $0.2150 dividend. This represents a $0.86 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, August 14th. Invesco’s dividend payout ratio (DPR) is -126.47%.

Insider Activity

In other news, Director Stephanie Butcher sold 45,095 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $32.28, for a total transaction of $1,455,666.60. Following the completion of the sale, the director owned 10,205 shares in the company, valued at approximately $329,417.40. This represents a 81.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Laura Dukes sold 31,075 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $33.16, for a total value of $1,030,447.00. Following the completion of the sale, the chief financial officer directly owned 259,183 shares of the company’s stock, valued at $8,594,508.28. The trade was a 10.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,540 shares of company stock valued at $7,227,167 over the last three months. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IVZ. SJS Investment Consulting Inc. boosted its holdings in Invesco by 80.1% in the first quarter. SJS Investment Consulting Inc. now owns 1,207 shares of the asset manager’s stock worth $29,000 after acquiring an additional 537 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of Invesco during the second quarter valued at about $39,000. Root Financial Partners LLC increased its holdings in shares of Invesco by 28.2% during the fourth quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 374 shares in the last quarter. Blue Trust Inc. raised its position in shares of Invesco by 171.0% in the 1st quarter. Blue Trust Inc. now owns 1,859 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 1,173 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Invesco by 389.6% in the 1st quarter. CENTRAL TRUST Co now owns 1,875 shares of the asset manager’s stock valued at $46,000 after purchasing an additional 1,492 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across a range of strategies, including active and passive equities, fixed income, multi-asset portfolios, alternatives and private markets.

Its offerings include mutual funds, exchange-traded funds, separately managed accounts, institutional investment mandates and other portfolio solutions.