Invesco (NYSE:IVZ) Hits New 12-Month Low Following Analyst Downgrade

Invesco Ltd. (NYSE:IVZ) reached a new 52-week low on Thursday after The Goldman Sachs Group lowered their price target on the stock from $18.50 to $17.00. The Goldman Sachs Group currently has a neutral rating on the stock. Invesco traded as low as $13.92 and last traded at $13.97, with a volume of 1943858 shares trading hands. The stock had previously closed at $15.69.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets lifted their target price on Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. Bank of America lowered their price target on Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday. UBS Group boosted their price objective on shares of Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Citigroup lowered their target price on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and an average price target of $19.30.

Hedge Funds Weigh In On Invesco

Several large investors have recently bought and sold shares of the stock. Massachusetts Mutual Life Insurance Co. acquired a new position in Invesco in the third quarter valued at $1,428,196,000. Norges Bank acquired a new position in Invesco in the 4th quarter valued at about $57,459,000. AQR Capital Management LLC increased its position in Invesco by 38.5% in the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock valued at $142,385,000 after acquiring an additional 2,264,551 shares during the period. CIBC Private Wealth Group LLC raised its stake in Invesco by 2,385.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock valued at $29,301,000 after acquiring an additional 1,642,645 shares during the last quarter. Finally, Amundi lifted its position in Invesco by 124.6% during the 4th quarter. Amundi now owns 2,653,259 shares of the asset manager’s stock worth $45,424,000 after acquiring an additional 1,472,178 shares during the period. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Stock Down 7.6 %

The company has a market capitalization of $5.72 billion, a PE ratio of 10.83, a P/E/G ratio of 0.98 and a beta of 1.26. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $16.85 and a two-hundred day simple moving average of $17.36.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. Research analysts expect that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Friday, February 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 annualized dividend and a yield of 6.41%. Invesco’s dividend payout ratio is presently 69.49%.

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.