Invesco (NYSE:IVZ) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Invesco (NYSE:IVZ) from a sell rating to a hold rating in a report released on Wednesday morning.

A number of other equities analysts have also issued reports on IVZ. JPMorgan Chase & Co. decreased their target price on shares of Invesco from $17.00 to $16.50 and set a neutral rating for the company in a research report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on Invesco from $16.00 to $17.00 and gave the company a sector perform rating in a research note on Thursday, July 25th. Morgan Stanley upped their target price on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a research report on Wednesday, April 17th. The Goldman Sachs Group cut their target price on shares of Invesco from $17.50 to $17.00 and set a neutral rating for the company in a research note on Tuesday, July 2nd. Finally, TD Cowen decreased their price target on shares of Invesco from $21.00 to $19.50 and set a buy rating on the stock in a research report on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $16.90.

Invesco Trading Up 1.4 %

Shares of IVZ stock opened at $16.48 on Wednesday. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of -21.97, a PEG ratio of 1.16 and a beta of 1.47. The company has a current ratio of 5.80, a quick ratio of 6.89 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $15.68 and a 200 day moving average price of $15.64. Invesco has a twelve month low of $12.48 and a twelve month high of $18.28.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s revenue was down .4% on a year-over-year basis. Research analysts forecast that Invesco will post 1.65 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 16th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.82 dividend on an annualized basis and a yield of 4.98%. Invesco’s dividend payout ratio is -109.33%.

Institutional Trading of Invesco

Several large investors have recently made changes to their positions in IVZ. State Board of Administration of Florida Retirement System lifted its holdings in Invesco by 10.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock worth $7,718,000 after buying an additional 44,417 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Invesco during the first quarter worth approximately $2,066,000. Price T Rowe Associates Inc. MD lifted its holdings in Invesco by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock valued at $24,843,000 after buying an additional 58,332 shares during the period. Norges Bank bought a new position in Invesco in the fourth quarter valued at approximately $59,713,000. Finally, PNC Financial Services Group Inc. boosted its stake in Invesco by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock valued at $1,353,000 after acquiring an additional 6,994 shares during the last quarter. Institutional investors 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.