The Goldman Sachs Group Issues Pessimistic Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price objective decreased by The Goldman Sachs Group from $19.25 to $19.00 in a research note published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

A number of other brokerages have also recently weighed in on IVZ. Wells Fargo & Company raised their target price on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their target price on Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. UBS Group upped their target price on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley lifted their price target on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Invesco has an average rating of “Hold” and a consensus target price of $18.83.

Invesco Stock Performance

Shares of NYSE IVZ opened at $17.16 on Tuesday. Invesco has a 1 year low of $14.16 and a 1 year high of $18.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91. The stock has a fifty day moving average price of $17.79 and a two-hundred day moving average price of $17.05. The firm has a market cap of $7.71 billion, a P/E ratio of -18.65, a PEG ratio of 1.05 and a beta of 1.43.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company earned $0.35 earnings per share. Invesco’s revenue was down 20.8% compared to the same quarter last year. Research analysts forecast that Invesco will post 1.7 EPS for the current fiscal year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Thursday, November 14th. Invesco’s dividend payout ratio (DPR) is currently -89.13%.

Hedge Funds Weigh In On Invesco

Hedge funds have recently modified their holdings of the stock. Massachusetts Mutual Life Insurance Co. purchased a new position in Invesco in the third quarter valued at about $1,428,196,000. State Street Corp grew its stake in shares of Invesco by 0.7% in the 3rd quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock valued at $369,823,000 after buying an additional 151,408 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Invesco by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock worth $270,540,000 after buying an additional 3,349,069 shares during the last quarter. Geode Capital Management LLC raised its position in Invesco by 0.9% during the third quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock valued at $179,666,000 after acquiring an additional 93,126 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Invesco by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after acquiring an additional 87,405 shares during the last quarter. 66.09% of the stock is 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.