Wells Fargo & Co. Reiterates Buy Rating for Invesco PLC (IVZ)
Invesco PLC (NYSE:IVZ)‘s stock had its “buy” rating reiterated by Wells Fargo & Co. in a research report issued to clients and investors on Wednesday.
IVZ has been the topic of several other research reports. Deutsche Bank AG upped their price objective on Invesco PLC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Citigroup Inc. downgraded Invesco PLC from a “buy” rating to a “neutral” rating and cut their price target for the company from $38.00 to $27.00 in a research note on Monday, June 27th. Jefferies Group reissued a “buy” rating and issued a $35.00 price target on shares of Invesco PLC in a research note on Monday, June 20th. Barclays PLC increased their price target on Invesco PLC from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Finally, TheStreet raised Invesco PLC from a “hold” rating to a “buy” rating in a research note on Wednesday, September 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.75.
Invesco PLC (NYSE:IVZ) traded up 1.18% during mid-day trading on Wednesday, reaching $30.84. The company had a trading volume of 3,189,403 shares. The stock has a market cap of $12.64 billion, a PE ratio of 15.58 and a beta of 1.97. Invesco PLC has a 12 month low of $23.02 and a 12 month high of $35.00. The firm’s 50-day moving average price is $30.35 and its 200-day moving average price is $29.53.
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Invesco PLC (NYSE:IVZ) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. Invesco PLC had a return on equity of 11.35% and a net margin of 17.27%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $853.16 million. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts forecast that Invesco PLC will post $2.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Thursday, August 18th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Tuesday, August 16th. Invesco PLC’s payout ratio is 56.57%.
In other news, Director Ben F. Johnson III bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was acquired at an average cost of $29.24 per share, for a total transaction of $58,480.00. Following the purchase, the director now owns 28,653 shares of the company’s stock, valued at approximately $837,813.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward P. Lawrence sold 1,609 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $30.84, for a total transaction of $49,621.56. Following the completion of the sale, the director now owns 33,848 shares of the company’s stock, valued at $1,043,872.32. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the stock. Ropes Wealth Advisors LLC increased its stake in shares of Invesco PLC by 606.0% in the second quarter. Ropes Wealth Advisors LLC now owns 4,377 shares of the company’s stock valued at $112,000 after buying an additional 3,757 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Invesco PLC during the second quarter valued at about $115,000. Point72 Asia Hong Kong Ltd increased its stake in shares of Invesco PLC by 11.9% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,700 shares of the company’s stock valued at $120,000 after buying an additional 500 shares during the period. Mizuho Asset Management Co. Ltd. increased its stake in shares of Invesco PLC by 76.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 5,557 shares of the company’s stock valued at $142,000 after buying an additional 2,406 shares during the period. Finally, Investment Counselors of Maryland LLC increased its stake in shares of Invesco PLC by 123.0% in the second quarter. Investment Counselors of Maryland LLC now owns 6,661 shares of the company’s stock valued at $170,000 after buying an additional 3,674 shares during the period. Institutional investors and hedge funds own 82.17% of the company’s stock.
Invesco PLC Company Profile
Invesco Ltd. (Invesco) is an independent global investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a diverse set of investment vehicles, to help clients achieve their investment objectives. It operates in the investment management segment.
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