Invesco (NYSE:IVZ) Given New $19.00 Price Target at Morgan Stanley

Invesco (NYSE:IVZ) had its price objective raised by Morgan Stanley from $18.00 to $19.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada raised their price objective on Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. UBS Group increased their price objective on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company boosted their price target on shares of Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Invesco has an average rating of “Hold” and a consensus price target of $18.88.

Invesco Trading Up 3.3 %

Shares of IVZ stock opened at $17.33 on Friday. Invesco has a fifty-two week low of $14.16 and a fifty-two week high of $18.94. The firm has a market capitalization of $7.79 billion, a P/E ratio of -18.84, a PEG ratio of 1.06 and a beta of 1.43. The stock’s fifty day moving average is $17.88 and its two-hundred day moving average is $16.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business’s revenue was down 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. Research analysts expect that Invesco will post 1.69 earnings per share for the current fiscal year.

Invesco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Thursday, November 14th. Invesco’s dividend payout ratio is presently -89.13%.

Hedge Funds Weigh In On Invesco

Hedge funds have recently bought and sold shares of the company. Massachusetts Mutual Life Insurance Co. acquired a new position in shares of Invesco during the 3rd quarter worth $1,428,196,000. State Street Corp increased its holdings in Invesco by 0.7% during the 3rd quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock valued at $369,823,000 after acquiring an additional 151,408 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Invesco by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock worth $270,540,000 after acquiring an additional 3,349,069 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Invesco by 0.9% in the third quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock valued at $179,666,000 after purchasing an additional 93,126 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Invesco by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after purchasing an additional 87,405 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

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.