Brokerages Set Invesco Ltd. (NYSE:IVZ) Target Price at $23.63

Shares of Invesco Ltd. (NYSE:IVZ) have been assigned a consensus rating of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $23.6333.

A number of equities research analysts have issued reports on IVZ shares. Morgan Stanley reissued a “positive” rating on shares of Invesco in a report on Monday, October 6th. Cowen reiterated a “buy” rating on shares of Invesco in a report on Thursday. Royal Bank Of Canada boosted their target price on Invesco from $23.00 to $25.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Evercore ISI lifted their price target on shares of Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Invesco in a research report on Friday, October 24th.

Insider Activity

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director directly owned 29,855 shares in the company, valued at $660,392.60. This trade represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $23.56, for a total value of $3,769,600.00. Following the transaction, the director owned 192 shares in the company, valued at $4,523.52. This trade represents a 99.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On Invesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in Invesco by 18.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,031 shares of the asset manager’s stock worth $70,000 after purchasing an additional 472 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Invesco by 0.6% in the third quarter. Wealthfront Advisers LLC now owns 85,723 shares of the asset manager’s stock worth $1,966,000 after buying an additional 474 shares during the last quarter. CI Investments Inc. grew its holdings in Invesco by 21.5% during the third quarter. CI Investments Inc. now owns 2,780 shares of the asset manager’s stock worth $64,000 after acquiring an additional 491 shares during the period. US Bancorp DE raised its position in Invesco by 4.1% during the third quarter. US Bancorp DE now owns 12,879 shares of the asset manager’s stock valued at $295,000 after acquiring an additional 510 shares in the last quarter. Finally, Norinchukin Bank The lifted its holdings in Invesco by 2.1% in the third quarter. Norinchukin Bank The now owns 26,249 shares of the asset manager’s stock valued at $602,000 after acquiring an additional 544 shares during the period. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Price Performance

Shares of Invesco stock opened at $26.22 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.23 and a quick ratio of 1.23. Invesco has a one year low of $11.60 and a one year high of $26.39. The business’s 50 day simple moving average is $23.62 and its two-hundred day simple moving average is $20.53. The stock has a market capitalization of $11.67 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 0.68 and a beta of 1.66.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 9.11%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Analysts forecast that Invesco will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Friday, November 14th were given a dividend of $0.21 per share. The ex-dividend date was Friday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. Invesco’s payout ratio is currently 57.14%.

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.