Invesco (NYSE:IVZ) Downgraded by StockNews.com

StockNews.com downgraded shares of Invesco (NYSE:IVZ) from a hold rating to a sell rating in a report released on Friday morning.

A number of other brokerages have also recently issued reports on IVZ. BMO Capital Markets initiated coverage on shares of Invesco in a research report on Monday, July 10th. They set a market perform rating and a $21.00 target price for the company. Citigroup lifted their price objective on shares of Invesco from $16.00 to $19.00 and gave the stock a neutral rating in a research note on Friday, July 14th. TheStreet lowered shares of Invesco from a b- rating to a c+ rating in a research note on Tuesday, May 30th. Morgan Stanley reissued an equal weight rating and set a $17.00 price objective on shares of Invesco in a research note on Tuesday, July 25th. Finally, Royal Bank of Canada lifted their price objective on shares of Invesco from $17.00 to $19.00 in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $18.45.

Invesco Stock Performance

Shares of IVZ opened at $15.23 on Friday. The company’s 50 day moving average price is $16.28 and its 200 day moving average price is $16.21. Invesco has a 52 week low of $13.20 and a 52 week high of $20.56. The company has a market capitalization of $6.83 billion, a PE ratio of 10.80, a PEG ratio of 1.36 and a beta of 1.39. The company has a debt-to-equity ratio of 0.71, a quick ratio of 5.15 and a current ratio of 5.15.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 25th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.09). Invesco had a return on equity of 7.54% and a net margin of 15.29%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company posted $0.39 earnings per share. Invesco’s quarterly revenue was down 7.1% on a year-over-year basis. Research analysts expect that Invesco will post 1.53 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date was Thursday, August 10th. Invesco’s payout ratio is 56.74%.

Insider Buying and Selling

In related news, major shareholder Invesco Realty, Inc. purchased 2,800,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was acquired at an average cost of $25.00 per share, with a total value of $70,000,000.00. Following the transaction, the insider now owns 853,400 shares of the company’s stock, valued at approximately $21,335,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Invesco

Large investors have recently made changes to their positions in the business. Gabelli Funds LLC boosted its position in shares of Invesco by 2.6% during the 4th quarter. Gabelli Funds LLC now owns 155,000 shares of the asset manager’s stock valued at $2,788,000 after acquiring an additional 4,000 shares during the last quarter. Peterson Financial Group Inc. increased its stake in Invesco by 138.7% in the 1st quarter. Peterson Financial Group Inc. now owns 40,506 shares of the asset manager’s stock worth $664,000 after purchasing an additional 23,537 shares during the period. Geode Capital Management LLC increased its stake in Invesco by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 9,204,556 shares of the asset manager’s stock worth $165,323,000 after purchasing an additional 319,016 shares during the period. Sigma Planning Corp increased its stake in Invesco by 95.6% in the 1st quarter. Sigma Planning Corp now owns 29,601 shares of the asset manager’s stock worth $485,000 after purchasing an additional 14,465 shares during the period. Finally, Empire Financial Management Company LLC purchased a new position in shares of Invesco during the first quarter valued at approximately $467,000. 66.27% of the stock is owned by hedge funds and other institutional investors.

About Invesco

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.