Wells Fargo & Company Raises Invesco (NYSE:IVZ) Price Target to $17.50

Invesco (NYSE:IVZ) had its target price boosted by Wells Fargo & Company from $16.50 to $17.50 in a report published on Wednesday morning, Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

A number of other equities analysts have also recently commented on IVZ. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Evercore ISI lifted their target price on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 20th. UBS Group increased their price target on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Barclays upped their price objective on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and an average target price of $18.38.

Invesco Trading Up 0.1 %

NYSE IVZ opened at $17.63 on Wednesday. The company has a market cap of $7.93 billion, a PE ratio of -19.16, a PEG ratio of 1.04 and a beta of 1.44. Invesco has a 12 month low of $12.61 and a 12 month high of $18.79. The stock has a 50 day moving average of $17.15 and a 200-day moving average of $16.11. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.41.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.01%. The company’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. On average, equities research analysts anticipate that Invesco will post 1.67 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be given a $0.205 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.65%. Invesco’s payout ratio is -89.13%.

Institutional Investors Weigh In On Invesco

Large investors have recently added to or reduced their stakes in the stock. abrdn plc lifted its position in shares of Invesco by 11.6% during the 3rd quarter. abrdn plc now owns 34,080 shares of the asset manager’s stock valued at $595,000 after acquiring an additional 3,529 shares during the period. Pallas Capital Advisors LLC bought a new position in shares of Invesco in the third quarter worth $774,000. Insight Folios Inc raised its stake in Invesco by 6.2% in the third quarter. Insight Folios Inc now owns 422,711 shares of the asset manager’s stock valued at $7,423,000 after purchasing an additional 24,517 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Invesco by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 52,316 shares of the asset manager’s stock worth $918,000 after purchasing an additional 3,545 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Invesco by 591.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 82,603 shares of the asset manager’s stock worth $1,451,000 after buying an additional 70,653 shares in the last quarter. Institutional investors and hedge funds 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.