TD Cowen Lowers Invesco (NYSE:IVZ) Price Target to $19.50

Invesco (NYSE:IVZ) had its target price reduced by TD Cowen from $21.00 to $19.50 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada boosted their target price on Invesco from $14.00 to $16.00 and gave the stock a sector perform rating in a research report on Thursday, January 18th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $17.00 price objective (down previously from $19.00) on shares of Invesco in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Invesco from $17.00 to $16.50 and set a neutral rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their price objective on Invesco from $17.75 to $16.75 and set a neutral rating for the company in a report on Wednesday. Finally, BMO Capital Markets reissued a market perform rating and issued a $17.00 target price (down from $18.00) on shares of Invesco in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $16.79.

Invesco Stock Performance

IVZ stock opened at $14.67 on Wednesday. Invesco has a twelve month low of $12.48 and a twelve month high of $18.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.01 and a current ratio of 5.01. The business has a fifty day moving average of $15.69 and a 200-day moving average of $15.45.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. As a group, equities research analysts predict that Invesco will post 1.68 earnings per share for the current fiscal year.

Invesco Increases Dividend

The company also recently disclosed 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 is a boost from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 5.59%. The ex-dividend date is Monday, May 13th. Invesco’s dividend payout ratio is currently -106.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IVZ. Point72 Asset Management L.P. boosted its position in shares of Invesco by 1,411.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock worth $67,016,000 after buying an additional 3,507,900 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Invesco during the fourth quarter worth about $61,795,000. Norges Bank acquired a new position in shares of Invesco during the fourth quarter worth about $59,713,000. Dimensional Fund Advisors LP boosted its position in shares of Invesco by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock worth $246,163,000 after buying an additional 2,592,039 shares during the period. Finally, Northern Trust Corp boosted its position in Invesco by 30.7% during the third quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock valued at $86,306,000 after purchasing an additional 1,395,023 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

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.