Invesco (NYSE:IVZ) Given New $16.75 Price Target at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price target trimmed by The Goldman Sachs Group from $17.75 to $16.75 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

IVZ has been the topic of several other research reports. Morgan Stanley boosted their price target on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods restated a market perform rating and issued a $17.00 price target (down previously from $19.00) on shares of Invesco in a research note on Wednesday. TD Cowen initiated coverage on shares of Invesco in a report on Thursday, January 4th. They issued an outperform rating and a $21.00 price target on the stock. Royal Bank of Canada raised their price objective on shares of Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a research report on Thursday, January 18th. Finally, StockNews.com raised shares of Invesco from a sell rating to a hold rating in a research report on Friday, February 23rd. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $16.79.

Invesco Stock Down 0.4 %

Invesco stock opened at $14.52 on Wednesday. Invesco has a one year low of $12.48 and a one year high of $18.71. The stock’s 50 day moving average price is $15.73 and its 200 day moving average price is $15.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.01 and a quick ratio of 5.01.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $0.38 earnings per share. Invesco’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts forecast that Invesco will post 1.75 earnings per share for the current fiscal year.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, May 13th. This is a boost from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.65%. Invesco’s payout ratio is currently -106.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IVZ. Gables Capital Management Inc. lifted its holdings in shares of Invesco by 74.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after acquiring an additional 700 shares during the period. Jones Financial Companies Lllp raised its position in Invesco by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock worth $53,000 after purchasing an additional 766 shares in the last quarter. Alaska Permanent Fund Corp raised its position in Invesco by 0.5% in the fourth quarter. Alaska Permanent Fund Corp now owns 145,267 shares of the asset manager’s stock worth $2,592,000 after purchasing an additional 767 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in Invesco by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager’s stock worth $292,000 after purchasing an additional 843 shares during the period. Finally, MCF Advisors LLC boosted its holdings in Invesco by 16.1% during the fourth quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock valued at $110,000 after purchasing an additional 855 shares in the last quarter. 66.09% of the stock is owned by institutional investors.

Invesco Company Profile

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.