Invesco Ltd. (NYSE:IVZ) to Issue $0.19 Quarterly Dividend

Invesco Ltd. (NYSE:IVZ – Get Rating) announced a quarterly dividend on Tuesday, January 24th, Zacks reports. Investors of record on Thursday, February 16th will be given a dividend of 0.188 per share by the asset manager on Thursday, March 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Wednesday, February 15th.

Invesco has decreased its dividend by an average of 15.9% per year over the last three years and has increased its dividend every year for the last 2 years. Invesco has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Invesco to earn $1.64 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 45.7%.

Invesco Trading Down 2.0 %

Invesco stock opened at $18.52 on Wednesday. Invesco has a 1 year low of $13.20 and a 1 year high of $24.31. The firm’s 50 day moving average price is $18.82 and its two-hundred day moving average price is $17.27. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.43 and a current ratio of 4.43.

Invesco (NYSE:IVZ – Get Rating) last announced its earnings results on Tuesday, January 24th. The asset manager reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a return on equity of 10.39% and a net margin of 18.21%. Invesco’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 earnings per share. On average, research analysts predict that Invesco will post 1.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Invesco

A number of large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its position in shares of Invesco by 900.1% during the third quarter. Federated Hermes Inc. now owns 10,271 shares of the asset manager’s stock valued at $141,000 after buying an additional 9,244 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Invesco during the second quarter worth $202,000. Moors & Cabot Inc. acquired a new stake in shares of Invesco in the first quarter valued at $214,000. Wetherby Asset Management Inc. bought a new position in shares of Invesco in the first quarter valued at about $218,000. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Invesco by 41.7% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,302 shares of the asset manager’s stock worth $223,000 after purchasing an additional 4,798 shares in the last quarter. Institutional investors own 69.42% of the company’s stock.

Analyst Ratings Changes

IVZ has been the subject of several recent analyst reports. UBS Group cut Invesco from a “buy” rating to a “neutral” rating and raised their target price for the stock from $19.00 to $20.00 in a research report on Tuesday, January 10th. StockNews.com began coverage on shares of Invesco in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Deutsche Bank Aktiengesellschaft lowered shares of Invesco from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Monday, December 19th. The Goldman Sachs Group upped their price target on shares of Invesco from $18.50 to $18.70 and gave the stock a “neutral” rating in a research note on Friday, January 13th. Finally, JPMorgan Chase & Co. boosted their target price on Invesco from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.90.

About Invesco

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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.