Invesco Ltd. (NYSE:IVZ – Get Free Report) 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.
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.
Check Out Our Latest Research Report on IVZ
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.
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