Invesco Ltd. (NYSE:IVZ) Declares Quarterly Dividend of $0.21

Invesco Ltd. (NYSE:IVZ) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Tuesday, May 14th will be given a dividend of 0.205 per share by the asset manager on Tuesday, June 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Monday, May 13th. This is a positive change from Invesco’s previous quarterly dividend of $0.20.

Invesco has raised its dividend payment by an average of 0.5% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Invesco has a payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Invesco to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 41.5%.

Invesco Stock Performance

NYSE IVZ opened at $15.59 on Tuesday. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $15.76 and a 200 day moving average price of $15.44. Invesco has a 52 week low of $12.48 and a 52 week high of $18.71.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. Invesco’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. Equities research analysts predict that Invesco will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on IVZ. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of Invesco from $21.00 to $19.50 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. UBS Group cut their price target on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. The Goldman Sachs Group cut their price target on shares of Invesco from $18.00 to $17.75 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Finally, TD Cowen began coverage on shares of Invesco in a research note on Thursday, January 4th. They set an “outperform” rating and a $21.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Invesco currently has a consensus rating of “Hold” and a consensus target price of $17.46.

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.