Invesco (NYSE:IVZ) Coverage Initiated at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Invesco (NYSE:IVZ) in a research report sent to investors on Friday morning, MarketBeat reports. The firm issued an outperform rating and a $28.00 target price on the asset manager’s stock.

IVZ has been the topic of several other reports. Bank of America increased their price objective on shares of Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley increased their price objective on shares of Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, July 2nd. Cowen reaffirmed a “buy” rating on shares of Invesco in a report on Thursday, September 18th. Wells Fargo & Company raised shares of Invesco from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $14.50 to $18.00 in a report on Friday, July 11th. Finally, Zacks Research upgraded shares of Invesco to a “hold” rating in a research report on Tuesday, August 12th. Five analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.92.

Invesco Stock Performance

IVZ opened at $24.05 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a fifty day moving average price of $21.84 and a 200 day moving average price of $17.48. The stock has a market cap of $10.72 billion, a P/E ratio of 25.86, a P/E/G ratio of 1.33 and a beta of 1.66. Invesco has a 1 year low of $11.60 and a 1 year high of $24.21.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. Equities research analysts anticipate that Invesco will post 1.87 earnings per share for the current year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. Invesco’s dividend payout ratio is currently 90.32%.

Insider Activity

In related news, Director Stephanie Butcher sold 103,192 shares of the company’s 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 approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On Invesco

A number of hedge funds have recently modified their holdings of IVZ. Capital A Wealth Management LLC grew its holdings in shares of Invesco by 4,802.9% in the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 1,633 shares during the period. Federated Hermes Inc. grew its holdings in shares of Invesco by 186.6% in the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 1,282 shares during the period. SVB Wealth LLC purchased a new stake in shares of Invesco in the first quarter valued at about $32,000. IFP Advisors Inc grew its holdings in shares of Invesco by 55.7% in the second quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 761 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Invesco in the first quarter valued at about $41,000. 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.