Wells Fargo & Company Forecasts Strong Price Appreciation for Invesco (NYSE:IVZ) Stock

Invesco (NYSE:IVZ) had its price target lifted by Wells Fargo & Company from $17.00 to $19.50 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

A number of other equities research analysts have also weighed in on the stock. Argus boosted their target price on shares of Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday. UBS Group increased their price objective on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI upped their price target on Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada assumed coverage on Invesco in a research report on Tuesday. They set a “sector perform” rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and a consensus price target of $19.71.

Invesco Stock Performance

Shares of NYSE:IVZ opened at $19.21 on Wednesday. The company’s 50 day simple moving average is $17.73 and its 200 day simple moving average is $17.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. Invesco has a 1 year low of $14.16 and a 1 year high of $19.55. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. As a group, research analysts predict that Invesco will post 1.85 EPS for the current fiscal year.

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, February 14th. Invesco’s payout ratio is 69.49%.

Institutional Trading of Invesco

Several hedge funds have recently modified their holdings of the stock. Fisher Asset Management LLC grew its holdings 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 worth $79,738,000 after purchasing an additional 87,405 shares during the period. Massachusetts Mutual Life Insurance Co. bought a new position in shares of Invesco during the 3rd quarter worth about $1,428,196,000. Algert Global LLC acquired a new stake in shares of Invesco in the 2nd quarter valued at about $551,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Invesco by 1.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock valued at $1,378,000 after buying an additional 1,020 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Invesco during the 3rd quarter worth approximately $853,000. 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.