Invesco’s (IVZ) “Buy” Rating Reiterated at Jefferies Group LLC
Invesco Ltd. (NYSE:IVZ)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research note issued on Wednesday. They presently have a $35.00 price objective on the asset manager’s stock. Jefferies Group LLC’s price target suggests a potential upside of 8.76% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the company. Deutsche Bank AG upped their price objective on Invesco from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Credit Suisse Group AG restated a “hold” rating and set a $34.00 price objective on shares of Invesco in a research report on Friday, April 7th. Goldman Sachs Group Inc upgraded Invesco from a “neutral” rating to a “conviction-buy” rating and upped their price objective for the company from $30.00 to $37.00 in a research report on Wednesday, March 15th. Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. Finally, Wells Fargo & Co restated an “outperform” rating and set a $34.00 price objective on shares of Invesco in a research report on Tuesday, January 31st. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $35.30.
Shares of Invesco (NYSE:IVZ) traded down 3.092% during trading on Wednesday, hitting $31.185. The company had a trading volume of 788,751 shares. The firm’s 50 day moving average is $31.54 and its 200-day moving average is $31.25. Invesco has a 52 week low of $23.02 and a 52 week high of $33.47. The stock has a market capitalization of $12.69 billion, a P/E ratio of 14.188 and a beta of 1.82.
Invesco (NYSE:IVZ) last issued its quarterly earnings data on Thursday, April 27th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Invesco had a return on equity of 11.79% and a net margin of 18.04%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Invesco will post $2.50 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 12th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.60%. This is an increase from Invesco’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, May 10th. Invesco’s dividend payout ratio is presently 54.63%.
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In other news, insider Philip Taylor sold 60,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $32.40, for a total value of $1,944,000.00. Following the sale, the insider now directly owns 146,222 shares in the company, valued at $4,737,592.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.90% of the company’s stock.
Several large investors have recently modified their holdings of IVZ. Bank of The Ozarks increased its stake in shares of Invesco by 0.5% in the third quarter. Bank of The Ozarks now owns 19,470 shares of the asset manager’s stock valued at $609,000 after buying an additional 100 shares during the last quarter. Barrington Strategic Wealth Management Group LLC increased its stake in shares of Invesco by 0.6% in the fourth quarter. Barrington Strategic Wealth Management Group LLC now owns 18,910 shares of the asset manager’s stock valued at $574,000 after buying an additional 120 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Invesco by 5.9% in the first quarter. IFP Advisors Inc now owns 3,950 shares of the asset manager’s stock valued at $121,000 after buying an additional 221 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Invesco by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 40,462 shares of the asset manager’s stock valued at $1,220,000 after buying an additional 266 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Invesco by 2.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 10,895 shares of the asset manager’s stock valued at $312,000 after buying an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 80.85% of the company’s stock.
Invesco Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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