Invesco (IVZ) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Invesco (NYSE:IVZ) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

IVZ has been the topic of several other reports. Zacks Investment Research lowered Invesco from a buy rating to a hold rating in a research report on Thursday, October 12th. Citigroup raised their price objective on Invesco from $38.50 to $39.50 and gave the company a buy rating in a research report on Tuesday, October 3rd. Barclays assumed coverage on Invesco in a research report on Friday, September 8th. They issued an overweight rating and a $38.00 price objective on the stock. BidaskClub lowered Invesco from a hold rating to a sell rating in a research report on Saturday, August 19th. Finally, Jefferies Group raised their price objective on Invesco from $41.00 to $42.00 and gave the company a buy rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $38.50.

Shares of Invesco (NYSE:IVZ) traded up $0.33 during trading on Wednesday, reaching $37.67. The company had a trading volume of 1,490,000 shares, compared to its average volume of 2,364,598. Invesco has a 52-week low of $28.75 and a 52-week high of $37.82. The firm has a market capitalization of $15,334.63, a PE ratio of 14.77, a P/E/G ratio of 1.19 and a beta of 1.81. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.75.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The company had revenue of $976.60 million for the quarter, compared to analyst estimates of $940.96 million. During the same period last year, the company posted $0.60 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. analysts predict that Invesco will post 2.66 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Tuesday, November 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Monday, November 13th. Invesco’s payout ratio is 50.44%.

In other news, insider Colin Meadows sold 54,215 shares of Invesco stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total transaction of $1,952,282.15. Following the sale, the insider now directly owns 164,420 shares of the company’s stock, valued at $5,920,764.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in shares of Invesco by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,344,769 shares of the asset manager’s stock worth $47,323,000 after acquiring an additional 87,755 shares during the last quarter. Eaton Vance Management increased its holdings in Invesco by 247.2% in the second quarter. Eaton Vance Management now owns 452,597 shares of the asset manager’s stock valued at $15,927,000 after buying an additional 322,230 shares during the last quarter. Prudential Financial Inc. increased its holdings in Invesco by 40.1% in the third quarter. Prudential Financial Inc. now owns 1,547,138 shares of the asset manager’s stock valued at $54,212,000 after buying an additional 442,997 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Invesco by 17.3% in the second quarter. Wells Fargo & Company MN now owns 1,300,168 shares of the asset manager’s stock valued at $45,754,000 after buying an additional 192,018 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Invesco by 2.7% in the second quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after buying an additional 1,092,898 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

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About Invesco

Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Invesco (NYSE:IVZ)

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