Invesco (NYSE:IVZ – Free Report) had its price target lifted by Royal Bank Of Canada from $33.00 to $35.00 in a report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the asset manager’s stock.
A number of other research analysts have also recently commented on the company. Weiss Ratings raised Invesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. decreased their price target on Invesco from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Barclays boosted their price objective on Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group upped their price objective on Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley increased their target price on Invesco from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $29.88.
View Our Latest Stock Report on Invesco
Invesco Trading Up 0.8%
Invesco (NYSE:IVZ – Get Free Report) last released its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.03%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. As a group, analysts anticipate that Invesco will post 2.81 earnings per share for the current year.
Invesco Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th will be given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 14th. Invesco’s dividend payout ratio is presently -126.47%.
Hedge Funds Weigh In On Invesco
A number of large investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. grew its stake in shares of Invesco by 1.8% during the second quarter. Contravisory Investment Management Inc. now owns 49,852 shares of the asset manager’s stock worth $1,316,000 after acquiring an additional 882 shares during the last quarter. Gradient Investments LLC acquired a new position in Invesco during the 2nd quarter valued at approximately $742,000. Sonoma Allocations LLC acquired a new position in Invesco during the 2nd quarter valued at approximately $11,797,000. Czech National Bank raised its holdings in shares of Invesco by 4.3% in the second quarter. Czech National Bank now owns 126,179 shares of the asset manager’s stock worth $3,330,000 after buying an additional 5,258 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Invesco by 4.8% in the second quarter. GAMMA Investing LLC now owns 39,656 shares of the asset manager’s stock worth $1,047,000 after buying an additional 1,799 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.
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.
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