Keefe, Bruyette & Woods Cuts Invesco (NYSE:IVZ) Price Target to $18.00

Invesco (NYSE:IVZ) had its target price trimmed by Keefe, Bruyette & Woods from $19.00 to $18.00 in a research note published on Friday,Benzinga reports. The firm currently has a market perform rating on the asset manager’s stock.

A number of other equities analysts also recently commented on the company. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Evercore ISI boosted their price objective on Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their target price on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price target on shares of Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.88.

Invesco Price Performance

Shares of NYSE IVZ opened at $17.33 on Friday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of -18.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. Invesco has a twelve month low of $14.16 and a twelve month high of $18.94. The business has a 50 day simple moving average of $17.88 and a 200-day simple moving average of $16.82.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was down 20.8% compared to the same quarter last year. As a group, equities research analysts expect that Invesco will post 1.69 earnings per share for the current year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is presently -89.13%.

Hedge Funds Weigh In On Invesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in Invesco by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 511,850 shares of the asset manager’s stock valued at $8,988,000 after purchasing an additional 16,473 shares during the period. Franklin Resources Inc. increased its position in Invesco by 136.2% in the 3rd quarter. Franklin Resources Inc. now owns 127,777 shares of the asset manager’s stock worth $2,265,000 after buying an additional 73,671 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Invesco in the third quarter valued at approximately $35,000. Sanctuary Advisors LLC grew its stake in shares of Invesco by 255.2% in the third quarter. Sanctuary Advisors LLC now owns 39,784 shares of the asset manager’s stock worth $706,000 after acquiring an additional 28,584 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Invesco by 0.9% in the third quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock worth $179,666,000 after acquiring an additional 93,126 shares during the last quarter. Institutional investors 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.