Invesco (NYSE:IVZ) Price Target Raised to $25.00

Invesco (NYSE:IVZ) had its price target lifted by Bank of America from $23.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

Other analysts have also issued research reports about the stock. Barclays lifted their target price on shares of Invesco from $17.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 23rd. Cowen reaffirmed a “buy” rating on shares of Invesco in a research note on Thursday, September 18th. Evercore ISI reiterated a “positive” rating on shares of Invesco in a research note on Friday, September 5th. Morgan Stanley raised their target price on Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 2nd. Finally, The Goldman Sachs Group lifted their price target on Invesco from $16.25 to $16.75 and gave the stock a “neutral” rating in a research note on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.92.

Invesco Stock Up 1.9%

Invesco stock opened at $24.05 on Thursday. 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 has a market capitalization of $10.72 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The business has a 50 day simple moving average of $21.84 and a 200-day simple moving average of $17.50. Invesco has a 12 month low of $11.60 and a 12 month high of $24.21.

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

Invesco Announces Dividend

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

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the transaction, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital A Wealth Management LLC increased its position in Invesco by 4,802.9% during the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock worth $26,000 after purchasing an additional 1,633 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Invesco by 186.6% in the 1st quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock valued at $30,000 after buying an additional 1,282 shares during the period. IFP Advisors Inc increased its holdings in shares of Invesco by 55.7% during the 2nd quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock worth $34,000 after buying an additional 761 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Invesco during the 1st quarter valued at approximately $32,000. Finally, UMB Bank n.a. lifted its holdings in Invesco by 45.8% in the second quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 824 shares during the last quarter. 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.