Invesco (NYSE:IVZ) Given New $19.50 Price Target at TD Cowen

Invesco (NYSE:IVZ) had its price objective reduced by TD Cowen from $21.00 to $19.50 in a research note issued to investors on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

A number of other brokerages have also recently commented on IVZ. StockNews.com raised Invesco from a sell rating to a hold rating in a research note on Friday, February 23rd. Wells Fargo & Company lowered their price objective on shares of Invesco from $20.00 to $19.00 and set an overweight rating on the stock in a report on Wednesday, January 24th. JPMorgan Chase & Co. decreased their target price on shares of Invesco from $17.00 to $16.50 and set a neutral rating for the company in a research report on Wednesday. Morgan Stanley lifted their target price on Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Finally, UBS Group dropped their target price on shares of Invesco from $18.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, January 29th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $16.79.

Invesco Stock Performance

NYSE:IVZ opened at $14.52 on Wednesday. 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 has a fifty-two week low of $12.48 and a fifty-two week high of $18.71. The company has a 50 day simple moving average of $15.73 and a two-hundred day simple moving average of $15.44.

Invesco (NYSE:IVZ) last announced its 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). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. Invesco’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. On average, analysts forecast that Invesco will post 1.75 earnings per share for the current year.

Invesco Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IVZ. IRON Financial LLC boosted its position in Invesco by 9.1% during the first quarter. IRON Financial LLC now owns 12,116 shares of the asset manager’s stock worth $201,000 after purchasing an additional 1,013 shares during the period. Live Oak Private Wealth LLC raised its holdings in Invesco by 4.3% during the 1st quarter. Live Oak Private Wealth LLC now owns 319,199 shares of the asset manager’s stock valued at $5,296,000 after acquiring an additional 13,016 shares during the period. Amalgamated Bank lifted its position in shares of Invesco by 5.7% during the first quarter. Amalgamated Bank now owns 131,032 shares of the asset manager’s stock worth $2,174,000 after acquiring an additional 7,056 shares in the last quarter. Insight Folios Inc lifted its position in shares of Invesco by 2.0% during the first quarter. Insight Folios Inc now owns 390,278 shares of the asset manager’s stock worth $6,475,000 after acquiring an additional 7,777 shares in the last quarter. Finally, Norden Group LLC purchased a new position in shares of Invesco in the first quarter valued at $450,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.