Invesco (NYSE:IVZ) Price Target Raised to $30.00

Invesco (NYSE:IVZ) had its price target increased by The Goldman Sachs Group from $29.50 to $30.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other brokerages have also weighed in on IVZ. Weiss Ratings reissued a “hold (c+)” rating on shares of Invesco in a research report on Monday, December 29th. Zacks Research raised shares of Invesco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. upped their target price on shares of Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Barclays dropped their target price on shares of Invesco from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 28th. Finally, BMO Capital Markets boosted their price target on shares of Invesco from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.46.

Invesco Price Performance

Invesco stock opened at $26.52 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $27.36 and a 200-day simple moving average of $24.34. The stock has a market cap of $11.80 billion, a P/E ratio of -16.57, a price-to-earnings-growth ratio of 0.48 and a beta of 1.69. Invesco has a 12-month low of $11.60 and a 12-month high of $29.61.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 27th. The asset manager reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Invesco had a positive return on equity of 9.69% and a negative net margin of 6.92%.Invesco’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. Equities analysts expect that Invesco will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Friday, February 13th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, February 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.2%. Invesco’s dividend payout ratio is currently -52.50%.

Institutional Investors Weigh In On Invesco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Convergence Investment Partners LLC purchased a new position in shares of Invesco during the 3rd quarter worth $3,021,000. Jackson Creek Investment Advisors LLC acquired a new position in Invesco in the third quarter valued at $1,130,000. Thrivent Financial for Lutherans lifted its position in Invesco by 83.5% during the third quarter. Thrivent Financial for Lutherans now owns 631,046 shares of the asset manager’s stock worth $14,476,000 after buying an additional 287,219 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Invesco by 177.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 27,841 shares of the asset manager’s stock worth $639,000 after buying an additional 17,798 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in Invesco in the 3rd quarter valued at about $502,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.