Invesco (NYSE:IVZ) Price Target Cut to $16.75

Invesco (NYSE:IVZ) had its price objective decreased by The Goldman Sachs Group from $17.75 to $16.75 in a research note issued to investors on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $17.00 price target (down from $19.00) on shares of Invesco in a report on Wednesday. Morgan Stanley raised their price target on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. dropped their price objective on Invesco from $17.00 to $16.50 and set a neutral rating for the company in a research note on Wednesday. UBS Group dropped their price objective on Invesco from $18.00 to $17.00 and set a neutral rating for the company in a research note on Monday, January 29th. Finally, StockNews.com raised Invesco from a sell rating to a hold rating in a research note on Friday, February 23rd. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $16.79.

Invesco Stock Up 1.1 %

NYSE:IVZ opened at $14.68 on Wednesday. Invesco has a 1 year low of $12.48 and a 1 year high of $18.71. The business has a fifty day simple moving average of $15.69 and a two-hundred day simple moving average of $15.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.01 and a quick ratio of 5.01.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned $0.38 earnings per share. Invesco’s revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that Invesco will post 1.7 earnings per share for the current year.

Invesco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. This is an increase from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a yield of 5.59%. Invesco’s dividend payout ratio (DPR) is presently -106.67%.

Institutional Investors Weigh In On Invesco

Large investors have recently added to or reduced their stakes in the company. Gables Capital Management Inc. increased its holdings in shares of Invesco by 74.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after buying an additional 700 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Invesco by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock worth $53,000 after buying an additional 766 shares during the period. Alaska Permanent Fund Corp increased its holdings in shares of Invesco by 0.5% in the fourth quarter. Alaska Permanent Fund Corp now owns 145,267 shares of the asset manager’s stock worth $2,592,000 after buying an additional 767 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of Invesco by 4.4% in the third quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager’s stock worth $292,000 after buying an additional 843 shares during the period. Finally, MCF Advisors LLC increased its holdings in shares of Invesco by 16.1% in the fourth quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock worth $110,000 after buying an additional 855 shares during the period. Hedge funds and other institutional investors 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.