Invesco (NYSE:IVZ) Upgraded by BMO Capital Markets to “Strong-Buy” Rating

BMO Capital Markets upgraded shares of Invesco (NYSE:IVZ) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Morgan Stanley raised their target price 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. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and upped their target price for the stock from $17.50 to $25.00 in a research note on Monday, July 21st. Wells Fargo & Company upgraded Invesco from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $14.50 to $18.00 in a research note on Friday, July 11th. Cowen reissued a “buy” rating on shares of Invesco in a report on Thursday, September 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Invesco from $16.25 to $16.75 and gave the company a “neutral” rating in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.92.

Invesco Price Performance

Invesco stock opened at $24.05 on Thursday. The firm has a market cap of $10.72 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.33 and a beta of 1.66. 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 stock’s fifty day moving average price is $21.84 and its two-hundred day moving average price is $17.48. Invesco has a one year low of $11.60 and a one year high of $24.21.

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

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, August 14th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.84 annualized dividend and a yield of 3.5%. Invesco’s dividend payout ratio (DPR) is currently 90.32%.

Insider Transactions at Invesco

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 29,855 shares in the company, valued at approximately $660,392.60. This represents a 77.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.21% of the company’s stock.

Institutional Trading of Invesco

A number of institutional investors and hedge funds have recently bought and sold shares of IVZ. Capital A Wealth Management LLC lifted its holdings in Invesco by 4,802.9% during the 2nd quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock worth $26,000 after buying an additional 1,633 shares during the period. Federated Hermes Inc. raised its position in shares of Invesco by 186.6% during the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock worth $30,000 after acquiring an additional 1,282 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Invesco in the first quarter worth approximately $32,000. IFP Advisors Inc lifted its stake 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 worth $34,000 after acquiring an additional 761 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Invesco in the first quarter valued at approximately $41,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.