Invesco (NYSE:IVZ) PT Lowered to $16.50 at JPMorgan Chase & Co.

Invesco (NYSE:IVZ) had its target price lowered by JPMorgan Chase & Co. from $17.00 to $16.50 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

IVZ has been the subject of a number of other reports. Royal Bank of Canada raised their price objective on Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a research report on Thursday, January 18th. TheStreet downgraded Invesco from a b- rating to a c rating in a report on Friday, February 23rd. UBS Group reduced their price objective on shares of Invesco from $18.00 to $17.00 and set a neutral rating for the company in a research report on Monday, January 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Invesco from $21.00 to $19.50 and set an outperform rating on the stock in a research report on Wednesday, January 24th. Finally, The Goldman Sachs Group reduced their target price on shares of Invesco from $18.00 to $17.75 and set a neutral rating for the company in a report on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Invesco has a consensus rating of Hold and a consensus price target of $16.79.

Invesco Stock Performance

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

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

Invesco Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP raised its position in shares of Invesco by 276.8% in the 3rd quarter. Quantbot Technologies LP now owns 81,754 shares of the asset manager’s stock valued at $1,187,000 after buying an additional 60,057 shares in the last quarter. Oak Thistle LLC acquired a new position in Invesco during the fourth quarter valued at approximately $1,166,000. Northern Trust Corp lifted its stake in Invesco by 30.7% during the third quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock worth $86,306,000 after purchasing an additional 1,395,023 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Invesco by 4.5% in the 3rd quarter. Raymond James & Associates now owns 65,917 shares of the asset manager’s stock valued at $957,000 after purchasing an additional 2,846 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Invesco by 99.6% in the 3rd quarter. Hsbc Holdings PLC now owns 749,137 shares of the asset manager’s stock valued at $10,912,000 after purchasing an additional 373,778 shares during the last quarter. Institutional investors and hedge funds 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.