Zacks Research upgraded shares of Invesco (NYSE:IVZ – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.
IVZ has been the topic of several other research reports. Jefferies Financial Group raised Invesco to a “hold” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their price target on Invesco from $29.00 to $29.50 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley raised their price target on Invesco from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Royal Bank Of Canada lifted their price objective on Invesco from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Weiss Ratings upgraded Invesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Invesco has a consensus rating of “Hold” and an average price target of $29.88.
Check Out Our Latest Report on Invesco
Invesco Stock Performance
Invesco (NYSE:IVZ – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.03%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company posted $0.36 EPS. Invesco’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, sell-side analysts expect that Invesco will post 2.81 earnings per share for the current year.
Invesco Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th will be issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, August 14th. Invesco’s dividend payout ratio is -126.47%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of IVZ. Root Financial Partners LLC increased its holdings in shares of Invesco by 28.2% during the fourth quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager’s stock worth $45,000 after purchasing an additional 374 shares during the period. ANB Bank boosted its stake in shares of Invesco by 3.1% in the first quarter. ANB Bank now owns 12,324 shares of the asset manager’s stock valued at $299,000 after buying an additional 375 shares during the period. Carrera Capital Advisors grew its position in Invesco by 3.7% during the fourth quarter. Carrera Capital Advisors now owns 11,467 shares of the asset manager’s stock worth $301,000 after buying an additional 408 shares in the last quarter. Vise Technologies Inc. increased its stake in Invesco by 3.3% during the 4th quarter. Vise Technologies Inc. now owns 13,182 shares of the asset manager’s stock worth $346,000 after acquiring an additional 425 shares during the period. Finally, EWA LLC increased its stake in Invesco by 3.8% during the 1st quarter. EWA LLC now owns 12,490 shares of the asset manager’s stock worth $303,000 after acquiring an additional 452 shares during the period. 66.09% of the stock is owned by institutional investors and hedge funds.
Invesco Company Profile
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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