Invesco (NYSE:IVZ) Sets New 52-Week High – Still a Buy?

Invesco Ltd. (NYSE:IVZ)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $18.31 and last traded at $18.30, with a volume of 125160 shares traded. The stock had previously closed at $18.17.

Analyst Ratings Changes

A number of equities analysts have issued reports on IVZ shares. Evercore ISI boosted their price objective on shares of Invesco from $17.00 to $18.00 and gave the company an “in-line” rating in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft upped their price target on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. The Goldman Sachs Group lifted their price objective on Invesco from $17.25 to $17.50 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays assumed coverage on Invesco in a report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.42.

Invesco Trading Up 1.9 %

The stock’s fifty day simple moving average is $17.03 and its two-hundred day simple moving average is $16.07. The firm has a market cap of $8.38 billion, a PE ratio of -24.83, a PEG ratio of 1.10 and a beta of 1.44. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. On average, sell-side analysts forecast that Invesco Ltd. will post 1.66 EPS for the current fiscal year.

Invesco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.82 annualized dividend and a dividend yield of 4.40%. Invesco’s payout ratio is presently -109.33%.

Hedge Funds Weigh In On Invesco

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Invesco by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after purchasing an additional 3,349,069 shares in the last quarter. Swedbank AB bought a new stake in shares of Invesco during the first quarter valued at approximately $41,475,000. Bank of New York Mellon Corp raised its holdings in Invesco by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager’s stock worth $37,241,000 after acquiring an additional 30,016 shares during the last quarter. AQR Capital Management LLC lifted its position in Invesco by 19.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,364,232 shares of the asset manager’s stock valued at $35,274,000 after acquiring an additional 377,786 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Invesco by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock valued at $24,843,000 after purchasing an additional 58,332 shares during the last quarter. Institutional investors own 66.09% of the company’s stock.

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.