Invesco (NYSE:IVZ) Hits New 1-Year High – Should You Buy?

Invesco Ltd. (NYSE:IVZ)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $25.21 and last traded at $25.3460, with a volume of 770533 shares changing hands. The stock had previously closed at $24.39.

Analyst Ratings Changes

IVZ has been the subject of a number of analyst reports. Evercore ISI raised their price target on Invesco from $24.00 to $26.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Zacks Research raised shares of Invesco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Fundamental Research set a $27.00 target price on shares of Invesco in a report on Friday, October 31st. Royal Bank Of Canada lifted their price target on shares of Invesco from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group cut their price target on shares of Invesco from $26.50 to $25.50 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.63.

Invesco Stock Up 4.0%

The company’s 50 day moving average is $23.62 and its 200 day moving average is $20.45. The company has a market cap of $11.67 billion, a PE ratio of 17.83, a P/E/G ratio of 0.65 and a beta of 1.66. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.17. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. Invesco had a net margin of 14.15% and a return on equity of 9.11%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. As a group, analysts predict that Invesco Ltd. will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, November 14th. Invesco’s dividend payout ratio (DPR) is presently 57.14%.

Insiders Place Their Bets

In other news, Director Douglas J. Sharp sold 160,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the transaction, the director owned 192 shares in the company, valued at approximately $4,523.52. This trade represents a 99.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares of the company’s stock, valued at $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IVZ. Jump Financial LLC increased its holdings in Invesco by 30.2% in the 1st quarter. Jump Financial LLC now owns 231,218 shares of the asset manager’s stock worth $3,508,000 after acquiring an additional 53,608 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Invesco by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,452,945 shares of the asset manager’s stock valued at $67,551,000 after purchasing an additional 29,613 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Invesco during the first quarter worth about $418,000. Asset Management One Co. Ltd. increased its stake in Invesco by 729.1% during the 2nd quarter. Asset Management One Co. Ltd. now owns 108,246 shares of the asset manager’s stock worth $1,707,000 after buying an additional 95,190 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Invesco in the second quarter valued at approximately $197,000. Hedge funds and other 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.