Invesco (NYSE:IVZ) Sets New 1-Year High on Better-Than-Expected Earnings

Shares of Invesco Ltd. (NYSE:IVZ) reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $19.11 and last traded at $19.00, with a volume of 1139532 shares. The stock had previously closed at $17.75.

The asset manager reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.205 per share. The ex-dividend date is Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.32%. Invesco’s dividend payout ratio (DPR) is currently -89.13%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Wells Fargo & Company upped their price objective on shares of Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a research note on Wednesday. Evercore ISI raised their target price on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Argus boosted their price target on Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays increased their price objective on Invesco from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.71.

Institutional Investors Weigh In On Invesco

Several hedge funds have recently bought and sold shares of IVZ. Avior Wealth Management LLC grew its stake in shares of Invesco by 484.9% in the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after acquiring an additional 1,285 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Invesco in the 3rd quarter worth about $35,000. Allworth Financial LP grew its position in Invesco by 304.0% during the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 1,806 shares during the last quarter. Crews Bank & Trust purchased a new stake in Invesco during the 4th quarter valued at about $44,000. Finally, Truvestments Capital LLC bought a new stake in Invesco during the 3rd quarter valued at about $76,000. Institutional investors own 66.09% of the company’s stock.

Invesco Price Performance

The firm’s fifty day simple moving average is $17.67 and its 200-day simple moving average is $17.28. The firm has a market capitalization of $8.54 billion, a PE ratio of -20.64, a PEG ratio of 1.06 and a beta of 1.43. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66.

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.