Invesco (NYSE:IVZ) Sets New 12-Month Low After Analyst Downgrade

Invesco Ltd. (NYSE:IVZ)’s share price reached a new 52-week low on Wednesday after TD Cowen downgraded the stock from a buy rating to a hold rating. TD Cowen now has a $13.00 price target on the stock, down from their previous price target of $22.00. Invesco traded as low as $11.60 and last traded at $11.96, with a volume of 278331 shares. The stock had previously closed at $12.14.

Several other equities research analysts have also recently weighed in on IVZ. Morgan Stanley increased their price objective on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Wells Fargo & Company dropped their price target on Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a research note on Tuesday. Argus lifted their price target on shares of Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 price objective (up from $18.00) on shares of Invesco in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group dropped their target price on shares of Invesco from $18.50 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.57.

Hedge Funds Weigh In On Invesco

Several large investors have recently made changes to their positions in IVZ. Norges Bank purchased a new stake in shares of Invesco in the 4th quarter worth approximately $57,459,000. AQR Capital Management LLC boosted its holdings in Invesco by 38.5% in the fourth quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock worth $142,385,000 after acquiring an additional 2,264,551 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Invesco by 2,385.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock worth $29,301,000 after acquiring an additional 1,642,645 shares during the last quarter. Amundi increased its holdings in shares of Invesco by 124.6% during the fourth quarter. Amundi now owns 2,653,259 shares of the asset manager’s stock valued at $45,424,000 after acquiring an additional 1,472,178 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Invesco by 58.6% in the 4th quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager’s stock worth $58,289,000 after purchasing an additional 1,232,359 shares during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Trading Down 7.3 %

The firm has a 50-day moving average price of $16.12 and a 200-day moving average price of $17.18. The stock has a market cap of $5.66 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91.

Invesco (NYSE:IVZ) last issued its 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%. As a group, equities analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

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 $0.205 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a yield of 6.48%. Invesco’s payout ratio is currently 69.49%.

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.