Invesco (NYSE:IVZ) Reaches New 12-Month High on Better-Than-Expected Earnings

Invesco Ltd. (NYSE:IVZ) hit a new 52-week high on Tuesday following a stronger than expected earnings report. 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 EPS for the quarter, topping analysts’ consensus estimates 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Friday, February 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.31%. Invesco’s dividend payout ratio is currently -89.13%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IVZ. Evercore ISI upped their price objective on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. The Goldman Sachs Group decreased their price target on shares of Invesco from $19.25 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, December 20th. Barclays reduced their target price on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Invesco presently has an average rating of “Hold” and an average price target of $18.71.

Hedge Funds Weigh In On Invesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in Invesco by 4.6% in the second quarter. Pacer Advisors Inc. now owns 32,205 shares of the asset manager’s stock worth $482,000 after acquiring an additional 1,409 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Invesco by 12.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 75,751 shares of the asset manager’s stock worth $1,133,000 after purchasing an additional 8,317 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Invesco by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 319,240 shares of the asset manager’s stock worth $4,776,000 after purchasing an additional 2,451 shares during the last quarter. Mackenzie Financial Corp grew its position in Invesco by 19.3% during the 2nd quarter. Mackenzie Financial Corp now owns 57,647 shares of the asset manager’s stock worth $862,000 after purchasing an additional 9,336 shares during the last quarter. Finally, Scientech Research LLC acquired a new position in Invesco during the 2nd quarter valued at approximately $472,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Trading Up 7.1 %

The stock’s fifty day simple moving average is $17.60 and its 200-day simple moving average is $17.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The firm has a market cap of $8.54 billion, a PE ratio of -20.65, a PEG ratio of 1.06 and a beta of 1.43.

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.