Invesco Ltd. to Issue Quarterly Dividend of $0.21 (NYSE:IVZ)

Invesco Ltd. (NYSE:IVZ) announced a quarterly dividend on Tuesday, October 22nd, RTT News reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.205 per share by the asset manager on Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Thursday, November 14th.

Invesco has increased its dividend by an average of 0.5% per year over the last three years. Invesco has a dividend payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Invesco to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 44.3%.

Invesco Stock Performance

IVZ opened at $18.04 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of -24.05, a PEG ratio of 1.10 and a beta of 1.44. The company has a fifty day moving average of $17.10 and a 200 day moving average of $16.09. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.79.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share 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 analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. As a group, sell-side analysts forecast that Invesco will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday. Evercore ISI lifted their target price on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a report on Tuesday, August 20th. Royal Bank of Canada increased their price target on Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.88.

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.