Invesco (NYSE:IVZ) Hits New 1-Year High After Analyst Upgrade

Invesco Ltd. (NYSE:IVZ) hit a new 52-week high during trading on Wednesday after Royal Bank Of Canada upgraded the stock from a sector perform rating to an outperform rating. Royal Bank Of Canada now has a $35.00 price target on the stock, up from their previous price target of $25.00. Invesco traded as high as $29.55 and last traded at $29.1610, with a volume of 3297753 shares. The stock had previously closed at $27.91.

Several other analysts have also recently commented on the stock. Morgan Stanley lifted their target price on shares of Invesco from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. BMO Capital Markets raised their price objective on Invesco from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Wall Street Zen upgraded Invesco from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. The Goldman Sachs Group set a $28.75 price target on Invesco in a research note on Thursday, January 15th. Finally, Zacks Research cut Invesco from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.36.

Insider Buying and Selling

In related news, Director Douglas J. Sharp sold 160,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $23.56, for a total value of $3,769,600.00. Following the transaction, the director owned 192 shares in the company, valued at approximately $4,523.52. This trade represents a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On Invesco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wedmont Private Capital increased its holdings in Invesco by 2.2% in the 4th quarter. Wedmont Private Capital now owns 21,236 shares of the asset manager’s stock valued at $588,000 after purchasing an additional 456 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Invesco by 18.4% in the third quarter. Parallel Advisors LLC now owns 3,031 shares of the asset manager’s stock worth $70,000 after buying an additional 472 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Invesco by 0.6% in the third quarter. Wealthfront Advisers LLC now owns 85,723 shares of the asset manager’s stock valued at $1,966,000 after buying an additional 474 shares in the last quarter. CI Investments Inc. grew its stake in shares of Invesco by 21.5% in the third quarter. CI Investments Inc. now owns 2,780 shares of the asset manager’s stock valued at $64,000 after buying an additional 491 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Invesco by 4.1% during the 3rd quarter. US Bancorp DE now owns 12,879 shares of the asset manager’s stock valued at $295,000 after buying an additional 510 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Stock Up 0.2%

The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 0.51 and a beta of 1.65. The firm has a 50-day moving average of $26.37 and a 200 day moving average of $23.40. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 9.11%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $0.44 earnings per share. Invesco’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Friday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.84 annualized dividend and a yield of 2.9%. Invesco’s payout ratio is 57.14%.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.