Wells Fargo & Co cut shares of Invesco (NYSE:IVZ) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, MarketBeat.com reports. Wells Fargo & Co currently has $22.00 price target on the asset manager’s stock, down from their previous price target of $27.00.
Other equities analysts have also recently issued reports about the stock. Deutsche Bank dropped their price target on shares of Invesco from $31.00 to $30.00 and set a buy rating for the company in a research note on Thursday, August 16th. JPMorgan Chase & Co. set a $29.00 price objective on shares of Invesco and gave the stock a buy rating in a research note on Monday, September 24th. Zacks Investment Research upgraded shares of Invesco from a sell rating to a hold rating in a research note on Monday, September 24th. UBS Group dropped their target price on shares of Invesco from $26.00 to $24.00 and set a neutral rating on the stock in a research report on Monday, October 8th. Finally, Morgan Stanley dropped their price objective on shares of Invesco from $29.00 to $28.00 and set an equal weight rating on the stock in a report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $28.91.
IVZ opened at $18.87 on Tuesday. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 6.99, a price-to-earnings-growth ratio of 0.84 and a beta of 1.50. Invesco has a 1-year low of $18.49 and a 1-year high of $38.43. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 1.55.
Invesco (NYSE:IVZ) last announced its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $966.90 million for the quarter, compared to the consensus estimate of $972.49 million. Invesco had a net margin of 21.66% and a return on equity of 12.25%. Invesco’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. On average, equities analysts anticipate that Invesco will post 2.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Tuesday, November 13th were issued a $0.30 dividend. The ex-dividend date was Friday, November 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.36%. Invesco’s payout ratio is 44.44%.
Large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. boosted its position in shares of Invesco by 62.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 93,072 shares of the asset manager’s stock worth $2,472,000 after purchasing an additional 35,710 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Invesco by 15.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 24,443 shares of the asset manager’s stock valued at $649,000 after acquiring an additional 3,308 shares during the last quarter. Nelson Roberts Investment Advisors LLC increased its stake in shares of Invesco by 3.2% during the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 200,272 shares of the asset manager’s stock valued at $4,582,000 after acquiring an additional 6,145 shares during the last quarter. Standard Life Aberdeen plc increased its stake in shares of Invesco by 12.5% during the 2nd quarter. Standard Life Aberdeen plc now owns 207,564 shares of the asset manager’s stock valued at $5,513,000 after acquiring an additional 22,993 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of Invesco by 15.0% during the 3rd quarter. Financial Counselors Inc. now owns 319,878 shares of the asset manager’s stock worth $7,319,000 after purchasing an additional 41,676 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.
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.
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