Invesco (NYSE:IVZ) Price Target Cut to $18.00 by Analysts at Keefe, Bruyette & Woods

Invesco (NYSE:IVZ) had its target price decreased by Keefe, Bruyette & Woods from $19.00 to $18.00 in a research report sent to investors on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the asset manager’s stock.

A number of other equities research analysts have also recently issued reports on IVZ. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. UBS Group upped their target price on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI increased their price objective on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Morgan Stanley boosted their target price on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.88.

Invesco Price Performance

IVZ opened at $17.33 on Friday. The firm has a market cap of $7.79 billion, a P/E ratio of -18.84, a PEG ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91. Invesco has a fifty-two week low of $14.16 and a fifty-two week high of $18.94. The firm has a 50-day moving average of $17.88 and a 200 day moving average of $16.80.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. Invesco’s revenue was down 20.8% on a year-over-year basis. On average, research analysts expect that Invesco will post 1.69 EPS for the current year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were issued a $0.205 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.82 annualized dividend and a yield of 4.73%. Invesco’s dividend payout ratio (DPR) is presently -89.13%.

Institutional Investors Weigh In On Invesco

Several institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Mutual Life Insurance Co. purchased a new stake in Invesco during the 3rd quarter valued at $1,428,196,000. State Street Corp boosted its holdings in shares of Invesco by 0.7% during the 3rd quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock valued at $369,823,000 after acquiring an additional 151,408 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Invesco by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock worth $270,540,000 after acquiring an additional 3,349,069 shares during the period. Geode Capital Management LLC lifted its position in Invesco by 0.9% during the third quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock valued at $179,666,000 after purchasing an additional 93,126 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Invesco by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock worth $79,738,000 after purchasing an additional 87,405 shares during the last quarter. Institutional investors own 66.09% of the company’s stock.

About Invesco

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.