Invesco Ltd. (IVZ) to Issue Quarterly Dividend of $0.21 on September 4th

Invesco Ltd. (NYSE:IVZ) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Friday, August 16th will be paid a dividend of 0.205 per share by the asset manager on Wednesday, September 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.95%. The ex-dividend date is Friday, August 16th.

Invesco has increased its dividend payment by an average of 0.5% per year over the last three years. Invesco has a payout ratio of 44.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE IVZ opened at $16.58 on Thursday. Invesco has a 1 year low of $12.48 and a 1 year high of $18.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 6.89 and a quick ratio of 6.89. The company’s 50-day moving average is $15.47 and its 200 day moving average is $15.71. The stock has a market capitalization of $7.46 billion, a P/E ratio of -22.11, a P/E/G ratio of 1.37 and a beta of 1.47.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.37%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. Invesco’s quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts expect that Invesco will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. TD Cowen cut their price objective on shares of Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a report on Wednesday, April 24th. JPMorgan Chase & Co. cut their price objective on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $17.00 price objective (down previously from $19.00) on shares of Invesco in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group cut their price objective on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.81.

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.