Barclays Trims Invesco (IVZ) Target Price to $23.00

Invesco (NYSE:IVZ) had its target price trimmed by Barclays from $25.00 to $23.00 in a research note released on Monday. The firm currently has an overweight rating on the asset manager’s stock.

A number of other research firms have also recently weighed in on IVZ. UBS Group decreased their price target on Invesco from $26.00 to $24.00 and set a neutral rating for the company in a report on Monday, October 8th. Morgan Stanley decreased their price target on Invesco from $29.00 to $28.00 and set an equal weight rating for the company in a report on Tuesday, October 9th. Zacks Investment Research upgraded Invesco from a sell rating to a hold rating in a research note on Monday, September 24th. Credit Suisse Group reiterated a neutral rating and set a $27.00 target price (down from $34.00) on shares of Invesco in a research note on Friday, October 19th. Finally, Deutsche Bank reduced their target price on Invesco from $30.00 to $27.00 and set a buy rating for the company in a research note on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Invesco currently has an average rating of Hold and a consensus target price of $28.91.

NYSE IVZ opened at $18.87 on Monday. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 6.99, a P/E/G ratio of 0.83 and a beta of 1.50. Invesco has a fifty-two week low of $18.49 and a fifty-two 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.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.66. The firm had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $972.49 million. Invesco had a return on equity of 12.25% and a net margin of 21.66%. Invesco’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. As a group, sell-side analysts forecast that Invesco will post 2.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Tuesday, November 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.36%. The ex-dividend date was Friday, November 9th. Invesco’s dividend payout ratio (DPR) is currently 44.44%.

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Invesco by 41.3% during the 2nd quarter. American Century Companies Inc. now owns 16,442,516 shares of the asset manager’s stock valued at $436,713,000 after acquiring an additional 4,801,968 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Invesco during the 2nd quarter valued at approximately $46,717,000. Federated Investors Inc. PA raised its position in shares of Invesco by 181.4% during the 2nd quarter. Federated Investors Inc. PA now owns 2,375,762 shares of the asset manager’s stock valued at $63,100,000 after acquiring an additional 1,531,418 shares in the last quarter. Kiltearn Partners LLP raised its position in shares of Invesco by 18.9% during the 3rd quarter. Kiltearn Partners LLP now owns 8,758,297 shares of the asset manager’s stock valued at $200,390,000 after acquiring an additional 1,393,287 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Invesco by 60.9% during the 3rd quarter. Schroder Investment Management Group now owns 3,664,694 shares of the asset manager’s stock valued at $83,848,000 after acquiring an additional 1,386,674 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

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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