Invesco (NYSE:IVZ) Sets New 52-Week High Following Earnings Beat

Invesco Ltd. (NYSE:IVZ)’s stock price hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $19.11 and last traded at $19.00, with a volume of 1139532 shares. The stock had previously closed at $17.75.

The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Friday, February 14th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.25%. Invesco’s payout ratio is -89.13%.

Wall Street Analyst Weigh In

Several analysts have issued reports on IVZ shares. Deutsche Bank Aktiengesellschaft lifted their price target on Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada assumed coverage on Invesco in a research report on Tuesday. They issued a “sector perform” rating and a $19.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on Invesco from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, December 20th. TD Cowen lowered their price objective on shares of Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company cut their price objective on shares of Invesco from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.50.

Institutional Trading of Invesco

Several institutional investors and hedge funds have recently bought and sold shares of IVZ. Massachusetts Mutual Life Insurance Co. acquired a new position in shares of Invesco during the 3rd quarter worth approximately $1,428,196,000. Azora Capital LP bought a new position in Invesco in the 3rd quarter valued at about $27,289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Invesco by 131.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager’s stock worth $15,982,000 after acquiring an additional 516,622 shares during the last quarter. Algert Global LLC increased its stake in shares of Invesco by 1,207.8% during the third quarter. Algert Global LLC now owns 481,270 shares of the asset manager’s stock worth $8,451,000 after purchasing an additional 444,470 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in Invesco in the 3rd quarter valued at $4,889,000. Institutional investors own 66.09% of the company’s stock.

Invesco Stock Up 8.8 %

The company has a market cap of $8.68 billion, a price-to-earnings ratio of -20.99, a P/E/G ratio of 1.06 and a beta of 1.43. The stock has a fifty day moving average price of $17.64 and a two-hundred day moving average price of $17.27. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66.

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.