Citigroup Issues Pessimistic Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price target lowered by Citigroup from $20.00 to $16.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. Royal Bank of Canada began coverage on Invesco in a report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price objective for the company. TD Cowen reduced their price objective on Invesco from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company upped their target price on Invesco from $17.00 to $19.50 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley lifted their price target on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and an average target price of $19.66.

Invesco Stock Performance

Shares of IVZ stock opened at $15.18 on Monday. The stock’s fifty day simple moving average is $17.10 and its 200-day simple moving average is $17.43. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.98 and a beta of 1.43. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco has a 1-year low of $14.16 and a 1-year high of $19.55.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. On average, sell-side analysts predict that Invesco will post 1.87 earnings per share for the current fiscal year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were issued a dividend of $0.205 per share. The ex-dividend date was Friday, February 14th. This represents a $0.82 annualized dividend and a yield of 5.40%. Invesco’s dividend payout ratio (DPR) is presently 69.49%.

Institutional Trading of Invesco

A number of institutional investors and hedge funds have recently modified their holdings of IVZ. Bank of New York Mellon Corp raised its holdings in Invesco by 4.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager’s stock worth $45,684,000 after acquiring an additional 113,451 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Invesco in the fourth quarter worth about $735,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Invesco during the 4th quarter worth about $424,000. Massachusetts Mutual Life Insurance Co. bought a new stake in Invesco during the 3rd quarter valued at approximately $1,428,196,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Invesco by 41.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock valued at $867,000 after buying an additional 14,489 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.