Invesco’s (IVZ) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Invesco (NYSE:IVZ) in a research note released on Wednesday morning, Benzinga reports. They currently have a $17.00 price objective on the asset manager’s stock, down from their prior price objective of $19.00.

IVZ has been the topic of several other reports. TheStreet cut shares of Invesco from a b- rating to a c rating in a research report on Friday, February 23rd. Royal Bank of Canada raised their target price on shares of Invesco from $14.00 to $16.00 and gave the stock a sector perform rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. decreased their target price on shares of Invesco from $17.00 to $16.50 and set a neutral rating on the stock in a research report on Wednesday. TD Cowen assumed coverage on shares of Invesco in a research report on Thursday, January 4th. They set an outperform rating and a $21.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Invesco from $16.00 to $17.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $16.79.

Invesco Stock Up 1.1 %

Shares of NYSE IVZ opened at $14.67 on Wednesday. The company has a 50-day simple moving average of $15.69 and a 200-day simple moving average of $15.45. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.54. Invesco has a 12 month low of $12.48 and a 12 month high of $18.71.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted $0.38 earnings per share. Invesco’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Invesco will post 1.68 earnings per share for the current 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 paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%. This is a positive change from Invesco’s previous quarterly dividend of $0.20. Invesco’s dividend payout ratio (DPR) is currently -106.67%.

Institutional Trading of Invesco

Hedge funds have recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of Invesco during the third quarter valued at approximately $25,000. Gables Capital Management Inc. raised its stake in shares of Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 700 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Invesco during the third quarter valued at approximately $32,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the third quarter valued at approximately $36,000. Finally, Pinnacle Bancorp Inc. raised its stake in shares of Invesco by 100.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.