Invesco Ltd. (NYSE:IVZ) Raises Dividend to $0.21 Per Share

Invesco Ltd. (NYSE:IVZ) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Tuesday, May 14th will be paid a dividend of 0.205 per share by the asset manager on Tuesday, June 4th. This represents a $0.82 annualized dividend and a yield of 5.62%. The ex-dividend date is Monday, May 13th. This is a positive change from Invesco’s previous quarterly dividend of $0.20.

Invesco has increased its dividend payment by an average of 0.5% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Invesco has a payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Invesco to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 41.5%.

Invesco Stock Performance

Shares of IVZ stock opened at $14.59 on Wednesday. The business’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $15.45. Invesco has a one year low of $12.48 and a one year high of $18.71. The stock has a market capitalization of $6.55 billion, a PE ratio of -19.72, a PEG ratio of 1.03 and a beta of 1.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.01 and a quick ratio of 5.01.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, January 23rd. The asset manager reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07. Invesco had a positive return on equity of 7.93% and a negative net margin of 1.70%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Invesco will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price target on Invesco from $18.00 to $17.75 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Morgan Stanley boosted their price target on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Royal Bank of Canada boosted their price target on Invesco from $14.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, January 18th. Finally, Keefe, Bruyette & Woods dropped their price target on Invesco from $21.00 to $19.50 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Invesco presently has a consensus rating of “Hold” and an average price target of $17.46.

Invesco Company Profile

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.