Invesco Ltd. (NYSE:IVZ) Announces $0.21 Quarterly Dividend

Invesco Ltd. (NYSE:IVZ) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Friday, August 16th will be given a dividend of 0.205 per share by the asset manager on Wednesday, September 4th. This represents a $0.82 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Friday, August 16th.

Invesco has raised its dividend payment by an average of 0.5% per year over the last three years. Invesco has a payout ratio of 45.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Invesco to earn $1.84 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 44.6%.

Invesco Stock Up 1.7 %

Invesco stock opened at $16.25 on Wednesday. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of -21.67, a price-to-earnings-growth ratio of 1.16 and a beta of 1.47. Invesco has a 52 week low of $12.48 and a 52 week high of $18.28. The business’s 50-day moving average price is $15.66 and its 200 day moving average price is $15.64. The company has a quick ratio of 6.89, a current ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. Invesco’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. As a group, sell-side analysts anticipate that Invesco will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada raised their price objective on Invesco from $16.00 to $17.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. TD Cowen dropped their price objective on Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a report on Wednesday, April 24th. BMO Capital Markets reissued a “market perform” rating and issued a $17.00 price objective (down from $18.00) on shares of Invesco in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group dropped their price objective on Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.90.

About Invesco

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.