Barclays Cuts Invesco (NYSE:IVZ) Price Target to $18.00

Invesco (NYSE:IVZ) had its price objective trimmed by Barclays from $19.00 to $18.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Several other equities research analysts also recently issued reports on IVZ. JPMorgan Chase & Co. increased their price objective on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods dropped their target price on Invesco from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, December 20th. UBS Group boosted their price target on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.71.

Invesco Trading Up 2.0 %

Invesco stock opened at $17.20 on Friday. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market capitalization of $7.73 billion, a PE ratio of -18.70, a price-to-earnings-growth ratio of 0.79 and a beta of 1.43. The firm has a 50 day simple moving average of $17.63 and a 200-day simple moving average of $17.16.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. Invesco’s revenue was down 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, equities research analysts expect that Invesco will post 1.7 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Thursday, November 14th. Invesco’s dividend payout ratio is currently -89.13%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Mutual Life Insurance Co. acquired a new position in shares of Invesco during the 3rd quarter worth about $1,428,196,000. State Street Corp lifted its stake in shares of Invesco by 0.7% during the 3rd quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock worth $369,823,000 after buying an additional 151,408 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Invesco by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock worth $179,666,000 after buying an additional 93,126 shares during the period. Fisher Asset Management LLC grew its position in shares of Invesco by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after purchasing an additional 87,405 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Invesco by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,311,814 shares of the asset manager’s stock valued at $75,715,000 after buying an additional 45,891 shares in the last quarter. Institutional investors and hedge funds 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.