Invesco (NYSE:IVZ) Sets New 1-Year High – Here’s Why

Invesco Ltd. (NYSE:IVZ)’s stock price hit a new 52-week high on Monday . The company traded as high as $29.82 and last traded at $29.4540, with a volume of 163743 shares trading hands. The stock had previously closed at $28.92.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IVZ. JPMorgan Chase & Co. cut their price target on shares of Invesco from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Zacks Research downgraded shares of Invesco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. TD Cowen increased their price target on shares of Invesco from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Argus restated a “hold” rating on shares of Invesco in a report on Wednesday, April 29th. Finally, Evercore set a $31.00 target price on shares of Invesco in a report on Monday, June 8th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.64.

Invesco Stock Up 1.5%

The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of -19.96, a P/E/G ratio of 0.65 and a beta of 1.60. The firm’s fifty day simple moving average is $26.33 and its 200 day simple moving average is $26.21.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, April 28th. The asset manager reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. Invesco had a positive return on equity of 11.34% and a negative net margin of 6.11%.The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. On average, sell-side analysts forecast that Invesco Ltd. will post 2.58 earnings per share for the current year.

Invesco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 15th were issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Invesco’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, May 15th. Invesco’s dividend payout ratio is -58.50%.

Institutional Trading of Invesco

Hedge funds and other institutional investors have recently made changes to their positions in the business. American National Bank & Trust acquired a new stake in shares of Invesco in the fourth quarter valued at approximately $31,000. SJS Investment Consulting Inc. raised its holdings in shares of Invesco by 80.1% in the first quarter. SJS Investment Consulting Inc. now owns 1,207 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 537 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Invesco by 61.5% in the third quarter. Larson Financial Group LLC now owns 1,466 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 558 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Invesco in the fourth quarter valued at approximately $44,000. Finally, Root Financial Partners LLC raised its holdings in shares of Invesco by 28.2% in the fourth quarter. Root Financial Partners LLC now owns 1,702 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 374 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.