Q3 2023 EPS Estimates for Invesco Ltd. Lifted by Analyst (NYSE:IVZ)

Invesco Ltd. (NYSE:IVZ – Get Rating) – Equities researchers at Jefferies Financial Group upped their Q3 2023 EPS estimates for Invesco in a report issued on Wednesday, July 27th. Jefferies Financial Group analyst D. Fannon now anticipates that the asset manager will post earnings per share of $0.55 for the quarter, up from their prior estimate of $0.54. The consensus estimate for Invesco’s current full-year earnings is $2.22 per share. Jefferies Financial Group also issued estimates for Invesco’s Q4 2023 earnings at $0.59 EPS.

Invesco (NYSE:IVZ – Get Rating) last issued its earnings results on Wednesday, July 27th. The asset manager reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.20). The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Invesco had a net margin of 22.72% and a return on equity of 13.70%. The business’s revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS.

A number of other research firms have also issued reports on IVZ. Keefe, Bruyette & Woods reduced their target price on shares of Invesco from $21.00 to $18.00 and set a “market perform” rating for the company in a research note on Tuesday, June 28th. Morgan Stanley reissued a “maintains” rating and issued a $16.00 target price (down from $17.00) on shares of Invesco in a research report on Thursday. StockNews.com downgraded shares of Invesco from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Invesco from $21.00 to $19.00 in a report on Wednesday, July 13th. Finally, BMO Capital Markets cut shares of Invesco from an “outperform” rating to a “market perform” rating and cut their target price for the company from $25.00 to $20.00 in a research note on Monday, June 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Invesco has a consensus rating of “Hold” and an average target price of $20.59.

Invesco Trading Up 2.8 %

NYSE IVZ opened at $17.74 on Monday. Invesco has a one year low of $15.20 and a one year high of $27.03. The company has a 50-day simple moving average of $17.21 and a 200-day simple moving average of $19.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.21 and a current ratio of 4.21. The firm has a market capitalization of $8.07 billion, a PE ratio of 6.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.28.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be issued a $0.188 dividend. This represents a $0.75 annualized dividend and a yield of 4.24%. The ex-dividend date is Thursday, August 11th. Invesco’s payout ratio is presently 26.32%.

Insider Activity at Invesco

In other news, CAO Terry Vacheron bought 4,000 shares of the stock in a transaction dated Tuesday, May 10th. The shares were bought at an average cost of $17.40 per share, with a total value of $69,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,696 shares of the company’s stock, valued at $186,110.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Invesco news, CAO Terry Vacheron bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was purchased at an average cost of $17.40 per share, with a total value of $69,600.00. Following the transaction, the chief accounting officer now directly owns 10,696 shares in the company, valued at approximately $186,110.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Mm Asset Management Holding Ll purchased 827,590 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were purchased at an average price of $16.08 per share, with a total value of $13,307,647.20. Following the purchase, the insider now directly owns 80,504,729 shares in the company, valued at approximately $1,294,516,042.32. The disclosure for this purchase can be found here. 1.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Invesco

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in shares of Invesco by 637.2% during the second quarter. SG Americas Securities LLC now owns 45,444 shares of the asset manager’s stock valued at $733,000 after purchasing an additional 39,280 shares in the last quarter. Russell Investments Group Ltd. increased its position in Invesco by 35.0% during the second quarter. Russell Investments Group Ltd. now owns 221,407 shares of the asset manager’s stock valued at $3,594,000 after acquiring an additional 57,355 shares during the last quarter. CWM LLC increased its position in Invesco by 26.1% during the second quarter. CWM LLC now owns 6,834 shares of the asset manager’s stock valued at $110,000 after acquiring an additional 1,413 shares during the last quarter. Palouse Capital Management Inc. increased its position in Invesco by 22.3% during the second quarter. Palouse Capital Management Inc. now owns 259,560 shares of the asset manager’s stock valued at $4,187,000 after acquiring an additional 47,335 shares during the last quarter. Finally, DGS Capital Management LLC increased its position in Invesco by 17.5% in the second quarter. DGS Capital Management LLC now owns 19,119 shares of the asset manager’s stock worth $308,000 after buying an additional 2,849 shares in the last quarter. 67.53% of the stock is currently owned by institutional investors.

About Invesco

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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.

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