Royal Bank of Canada Raises Invesco (NYSE:IVZ) Price Target to $17.00

Invesco (NYSE:IVZ) had its target price upped by Royal Bank of Canada from $16.00 to $17.00 in a research report report published on Thursday, Benzinga reports. They currently have a sector perform rating on the asset manager’s stock.

Several other research analysts have also commented on the company. TD Cowen cut their price target on Invesco from $21.00 to $19.50 and set a buy rating on the stock in a research report on Wednesday, April 24th. JPMorgan Chase & Co. cut their price target on Invesco from $17.00 to $16.50 and set a neutral rating on the stock in a research report on Wednesday, April 24th. Morgan Stanley lifted their price target on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a research report on Wednesday, April 17th. The Goldman Sachs Group cut their price target on Invesco from $17.50 to $17.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Finally, StockNews.com raised Invesco from a sell rating to a hold rating in a research report on Wednesday, July 24th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Invesco currently has an average rating of Hold and a consensus target price of $16.90.

Invesco Stock Performance

IVZ stock opened at $17.42 on Thursday. The business has a 50 day moving average price of $15.52 and a 200 day moving average price of $15.69. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.89 and a current ratio of 6.89.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a positive return on equity of 7.64% and a negative net margin of 1.73%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. As a group, research analysts predict that Invesco will post 1.65 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 16th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.71%. Invesco’s dividend payout ratio (DPR) is presently -109.33%.

Institutional Trading of Invesco

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Invesco by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock valued at $246,163,000 after buying an additional 2,592,039 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Invesco by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,034,956 shares of the asset manager’s stock worth $71,984,000 after purchasing an additional 136,582 shares in the last quarter. Fisher Asset Management LLC boosted its position in Invesco by 11.1% during the fourth quarter. Fisher Asset Management LLC now owns 3,921,250 shares of the asset manager’s stock worth $69,955,000 after purchasing an additional 391,935 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Invesco by 1,411.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock worth $67,016,000 after purchasing an additional 3,507,900 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Invesco during the fourth quarter worth $61,795,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.