Invesco PLC (IVZ) Receives Buy Rating from Wells Fargo & Co.
Several other analysts also recently weighed in on IVZ. Deutsche Bank AG lifted their target price on Invesco PLC from $32.00 to $33.00 and gave the company a buy rating in a research note on Monday, July 18th. Jefferies Group reaffirmed a buy rating and set a $35.00 target price on shares of Invesco PLC in a research note on Monday, June 20th. Barclays PLC set a $36.00 target price on Invesco PLC and gave the company a buy rating in a research note on Tuesday, August 9th. Finally, TheStreet raised Invesco PLC from a hold rating to a buy rating in a research note on Wednesday, September 7th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $35.75.
Shares of Invesco PLC (NYSE:IVZ) opened at 31.22 on Wednesday. Invesco PLC has a 1-year low of $23.02 and a 1-year high of $35.00. The company’s 50 day moving average price is $30.42 and its 200-day moving average price is $29.54. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 15.77 and a beta of 1.97.
Invesco PLC (NYSE:IVZ) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $853.16 million. Invesco PLC had a return on equity of 11.35% and a net margin of 17.27%. The business’s revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Equities analysts expect that Invesco PLC will post $2.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Thursday, August 18th were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.63%. Invesco PLC’s dividend payout ratio is 56.57%.
In other Invesco PLC news, Director Ben F. Johnson III purchased 2,000 shares of the stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $29.24 per share, for a total transaction of $58,480.00. Following the completion of the acquisition, the director now owns 28,653 shares of the company’s stock, valued at approximately $837,813.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward P. Lawrence sold 1,609 shares of Invesco PLC stock in a transaction on Friday, September 9th. The shares were sold at an average price of $30.84, for a total value of $49,621.56. Following the transaction, the director now owns 33,848 shares in the company, valued at approximately $1,043,872.32. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of IVZ. American Century Companies Inc. increased its position in shares of Invesco PLC by 129.7% in the second quarter. American Century Companies Inc. now owns 4,519,350 shares of the company’s stock worth $115,424,000 after buying an additional 2,551,675 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Invesco PLC by 144.5% in the second quarter. BlackRock Investment Management LLC now owns 3,102,381 shares of the company’s stock worth $79,235,000 after buying an additional 1,833,447 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Invesco PLC by 344.4% in the second quarter. Prudential Financial Inc. now owns 2,312,359 shares of the company’s stock worth $59,058,000 after buying an additional 1,792,000 shares in the last quarter. UBS Group AG increased its position in shares of Invesco PLC by 13.6% in the first quarter. UBS Group AG now owns 14,334,235 shares of the company’s stock worth $441,064,000 after buying an additional 1,716,501 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Invesco PLC during the fourth quarter worth $53,430,000. Institutional investors and hedge funds own 82.17% of the company’s stock.
About Invesco PLC
Invesco Ltd. (Invesco) is an independent global investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a diverse set of investment vehicles, to help clients achieve their investment objectives. It operates in the investment management segment.
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