Invesco (NYSE:IVZ) Price Target Raised to $16.25

Invesco (NYSE:IVZ) had its price target upped by The Goldman Sachs Group from $16.00 to $16.25 in a research report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

IVZ has been the topic of a number of other research reports. TD Cowen lowered shares of Invesco from a “buy” rating to a “hold” rating and dropped their price objective for the company from $22.00 to $13.00 in a research note on Wednesday, April 9th. Barclays lifted their price objective on shares of Invesco from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 9th. Evercore ISI lifted their price objective on shares of Invesco from $13.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, April 23rd. Citigroup dropped their price target on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $17.38.

Invesco Trading Down 2.9%

IVZ opened at $14.52 on Thursday. The firm has a market capitalization of $6.50 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.98 and a beta of 1.49. The firm’s 50 day moving average is $14.19 and its 200-day moving average is $16.07. Invesco has a 52-week low of $11.60 and a 52-week high of $19.55. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a net margin of 12.77% and a return on equity of 8.18%. During the same quarter last year, the firm posted $0.33 earnings per share. Analysts expect that Invesco will post 1.87 EPS for the current fiscal year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Wednesday, May 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend was Wednesday, May 14th. This is an increase from Invesco’s previous quarterly dividend of $0.21. Invesco’s payout ratio is currently 67.20%.

Hedge Funds Weigh In On Invesco

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Invesco by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager’s stock worth $900,127,000 after purchasing an additional 419,389 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Invesco by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,104,545 shares of the asset manager’s stock worth $351,430,000 after purchasing an additional 274,134 shares during the period. AQR Capital Management LLC boosted its holdings in Invesco by 35.4% in the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock worth $165,262,000 after purchasing an additional 2,882,928 shares during the period. Geode Capital Management LLC boosted its holdings in Invesco by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 10,383,206 shares of the asset manager’s stock worth $181,281,000 after purchasing an additional 134,726 shares during the period. Finally, Northern Trust Corp boosted its holdings in Invesco by 11.3% in the first quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager’s stock worth $107,455,000 after purchasing an additional 721,947 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Company Profile

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.