Royal Bank of Canada Raises Invesco (NYSE:IVZ) Price Target to $17.00

Invesco (NYSE:IVZ) had its target price increased by Royal Bank of Canada from $16.00 to $17.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a sector perform rating on the asset manager’s stock.

A number of other analysts have also weighed in on the stock. TD Cowen lowered their price objective on shares of Invesco from $21.00 to $19.50 and set a buy rating for the company in a research note on Wednesday, April 24th. BMO Capital Markets reiterated a market perform rating and issued a $17.00 target price (down from $18.00) on shares of Invesco in a report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Invesco from $17.00 to $16.50 and set a neutral rating for the company in a report on Wednesday, April 24th. Morgan Stanley boosted their target price on shares of Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group reduced their target price on shares of Invesco from $17.50 to $17.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $16.90.

Invesco Price Performance

NYSE:IVZ opened at $17.42 on Thursday. Invesco has a 1-year low of $12.48 and a 1-year high of $18.28. The company has a 50-day moving average of $15.52 and a 200 day moving average of $15.69. The company has a quick ratio of 6.89, a current ratio of 6.89 and a debt-to-equity ratio of 0.48.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 7.64%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts anticipate that Invesco will post 1.65 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 16th will be issued a $0.205 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.82 annualized dividend and a yield of 4.71%. Invesco’s dividend payout ratio (DPR) is presently -109.33%.

Institutional Investors Weigh In On Invesco

Hedge funds have recently bought and sold shares of the stock. Gables Capital Management Inc. boosted its position in Invesco by 74.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after purchasing an additional 700 shares in the last quarter. Family Firm Inc. purchased a new stake in Invesco in the 2nd quarter worth approximately $28,000. Pinnacle Bancorp Inc. boosted its position in Invesco by 100.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Quarry LP purchased a new stake in Invesco in the 4th quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC boosted its position in Invesco by 182.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock worth $44,000 after purchasing an additional 1,589 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.