Invesco (NYSE:IVZ) Price Target Lowered to $17.00 at Wells Fargo & Company

Invesco (NYSE:IVZ) had its price objective decreased by Wells Fargo & Company from $17.50 to $17.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the asset manager’s stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group decreased their price target on shares of Invesco from $19.25 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. UBS Group boosted their target price on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Barclays lifted their price objective on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their target price on Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.79.

Invesco Stock Performance

NYSE:IVZ opened at $16.58 on Tuesday. The stock has a 50-day moving average price of $17.73 and a 200 day moving average price of $17.10. The stock has a market capitalization of $7.45 billion, a P/E ratio of -18.02, a P/E/G ratio of 1.05 and a beta of 1.43. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.35 EPS. The company’s revenue was down 20.8% on a year-over-year basis. Equities research analysts forecast that Invesco will post 1.7 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.95%. Invesco’s dividend payout ratio (DPR) is presently -89.13%.

Institutional Trading of Invesco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC grew its holdings in shares of Invesco by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock worth $79,738,000 after purchasing an additional 87,405 shares during the last quarter. Marshall Wace LLP grew its position in shares of Invesco by 115.7% during the 2nd quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock worth $18,269,000 after buying an additional 654,960 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Invesco during the 2nd quarter worth $576,000. Massachusetts Mutual Life Insurance Co. purchased a new position in shares of Invesco during the third quarter valued at $1,428,196,000. Finally, Algert Global LLC bought a new stake in shares of Invesco in the second quarter valued at about $551,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

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.