JPMorgan Chase & Co. Trims Invesco (NYSE:IVZ) Target Price to $16.50

Invesco (NYSE:IVZ) had its target price lowered by JPMorgan Chase & Co. from $17.00 to $16.50 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

IVZ has been the subject of a number of other research reports. The Goldman Sachs Group reduced their target price on Invesco from $18.00 to $17.75 and set a neutral rating for the company in a research note on Thursday, April 11th. StockNews.com upgraded Invesco from a sell rating to a hold rating in a research note on Friday, February 23rd. UBS Group reduced their target price on Invesco from $18.00 to $17.00 and set a neutral rating for the company in a research note on Monday, January 29th. TheStreet lowered Invesco from a b- rating to a c rating in a research note on Friday, February 23rd. Finally, Morgan Stanley raised their target price on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $16.79.

Invesco Trading Up 1.1 %

Shares of IVZ opened at $14.68 on Wednesday. Invesco has a 12 month low of $12.48 and a 12 month high of $18.71. The stock has a fifty day moving average price of $15.69 and a 200-day moving average price of $15.44. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.54.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts expect that Invesco will post 1.7 earnings per share for the current year.

Invesco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.59%. 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’s payout ratio is presently -106.67%.

Institutional Trading of Invesco

Institutional investors have recently made changes to their positions in the company. Gables Capital Management Inc. increased its holdings in Invesco by 74.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 700 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Invesco in the 3rd quarter valued at approximately $25,000. Pinnacle Bancorp Inc. increased its holdings in Invesco by 100.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 1,000 shares during the last quarter. Quarry LP acquired a new stake in Invesco in the 4th quarter valued at approximately $37,000. Finally, Jones Financial Companies Lllp acquired a new stake in Invesco in the 3rd quarter valued at approximately $32,000. Hedge funds and other 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.