Invesco Ltd. (NYSE:IVZ) declared a quarterly dividend on Monday, October 22nd, Wall Street Journal reports. Shareholders of record on Tuesday, November 13th will be paid a dividend of 0.30 per share by the asset manager on Monday, December 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Friday, November 9th.
Invesco has increased its dividend by an average of 5.7% annually over the last three years and has raised its dividend every year for the last 9 years. Invesco has a dividend payout ratio of 44.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Invesco to earn $2.79 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 43.0%.
Shares of NYSE IVZ opened at $21.59 on Thursday. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 0.92 and a beta of 1.52. Invesco has a 52-week low of $19.66 and a 52-week high of $38.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.55 and a quick ratio of 1.55.
IVZ has been the subject of a number of research reports. Deutsche Bank raised their target price on Invesco from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. UBS Group lowered their target price on Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, October 8th. JPMorgan Chase & Co. set a $29.00 target price on Invesco and gave the company a “buy” rating in a research note on Monday, September 24th. Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Finally, Morgan Stanley lowered their target price on Invesco from $31.00 to $29.00 and set an “equal weight” rating for the company in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $30.73.
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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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