Invesco Ltd. (NYSE:IVZ) to Issue Dividend Increase – $0.21 Per Share

Invesco Ltd. (NYSE:IVZ) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Shareholders of record on Tuesday, May 14th will be given a dividend of 0.205 per share by the asset manager on Tuesday, June 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Monday, May 13th. This is a boost from Invesco’s previous quarterly dividend of $0.20.

Invesco has increased its dividend payment by an average of 0.5% annually over the last three years and has raised its dividend every year for the last 3 years. Invesco has a dividend payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Invesco to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 41.5%.

Invesco Price Performance

Shares of NYSE:IVZ opened at $14.59 on Wednesday. The company’s fifty day moving average is $15.75 and its two-hundred day moving average is $15.45. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. Invesco has a 12-month low of $12.48 and a 12-month high of $18.71. The company has a market cap of $6.55 billion, a P/E ratio of -19.72, a price-to-earnings-growth ratio of 1.03 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.39 EPS. The company’s revenue was down 5.6% on a year-over-year basis. Equities analysts expect that Invesco will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TheStreet downgraded shares of Invesco from a “b-” rating to a “c” rating in a research note on Friday, February 23rd. The Goldman Sachs Group lowered their price target on shares of Invesco from $18.00 to $17.75 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Wells Fargo & Company decreased their price objective on shares of Invesco from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on shares of Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Thursday, January 18th. Finally, UBS Group decreased their price objective on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Invesco has a consensus rating of “Hold” and an average target price of $17.46.

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.