Invesco (NYSE:IVZ) Price Target Raised to $32.00

by · The Markets Daily

Invesco (NYSE:IVZ – Free Report) had its target price increased by Morgan Stanley from $31.00 to $32.00 in a research note released on Thursday,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Other equities research analysts have also recently issued research reports about the stock. Evercore set a $34.00 price target on shares of Invesco in a research note on Friday, October 9th. BMO Capital Markets boosted their price target on shares of Invesco from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Keefe, Bruyette & Woods initiated coverage on shares of Invesco in a research report on Wednesday, September 9th. They set an “outperform” rating and a $39.00 price objective for the company. UBS Group set a $36.00 price objective on shares of Invesco in a report on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Invesco in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.19.

Read Our Latest Stock Report on IVZ

Invesco Stock Down 2.5%

Shares of IVZ opened at $28.07 on Thursday. 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. The stock’s 50 day moving average is $30.92 and its two-hundred day moving average is $28.86. The firm has a market cap of $12.44 billion, a P/E ratio of -41.28, a PEG ratio of 0.45 and a beta of 1.65.

Invesco (NYSE:IVZ – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Analysts predict that Invesco will post 2.82 earnings per share for the current fiscal year.

Invesco Dividend Announcement

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

Insider Transactions at Invesco

In related news, 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 value of $1,030,447.00. Following the completion of the transaction, the chief financial officer directly owned 259,183 shares of the company’s stock, valued at approximately $8,594,508.28. This represents a 10.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew Tak Shing Lo sold 100,840 shares of the firm’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 completion of the transaction, the director owned 812,477 shares in the company, valued at $26,161,759.40. The trade was a 11.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,540 shares of company stock valued at $7,227,167 in the last 90 days. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Invesco

A number of hedge funds have recently modified their holdings of IVZ. Financial Management Professionals Inc. acquired a new position in Invesco during the third quarter worth about $28,000. SJS Investment Consulting Inc. grew its stake in Invesco by 80.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,207 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 537 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in Invesco by 141.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,010 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 591 shares during the last quarter. Fortitude Family Office LLC raised its holdings in Invesco by 120.9% in the 3rd quarter. Fortitude Family Office LLC now owns 1,089 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 596 shares during the last quarter. Finally, Continuum Advisory LLC acquired a new stake in Invesco in the 2nd quarter valued at about $39,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Company Profile

(Get Free Report)

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.

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