Invesco (NYSE:IVZ) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Invesco (NYSE:IVZ) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks reports.

Other equities analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of Invesco from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. JPMorgan Chase & Co. boosted their price target on Invesco from $29.00 to $29.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Jefferies Financial Group raised Invesco to a “hold” rating in a report on Tuesday, June 30th. Evercore set a $35.00 price objective on Invesco in a research report on Monday, August 10th. Finally, Weiss Ratings raised Invesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.88.

Invesco Stock Down 2.2%

NYSE:IVZ opened at $32.33 on Monday. The firm has a market cap of $14.33 billion, a P/E ratio of -47.55, a P/E/G ratio of 0.48 and a beta of 1.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 1.31. Invesco has a fifty-two week low of $20.67 and a fifty-two week high of $33.66. The firm has a 50-day simple moving average of $30.71 and a two-hundred day simple moving average of $27.58.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. Analysts predict that Invesco will post 2.82 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Friday, August 14th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, August 14th. Invesco’s dividend payout ratio (DPR) is -126.47%.

Institutional Trading of Invesco

Several large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in shares of Invesco by 23.4% during the first quarter. California State Teachers Retirement System now owns 417,476 shares of the asset manager’s stock valued at $10,140,000 after buying an additional 79,273 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Invesco by 2,633.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager’s stock worth $23,330,000 after acquiring an additional 925,300 shares during the last quarter. Sonoma Allocations LLC purchased a new position in Invesco during the second quarter valued at $11,797,000. Principal Financial Group Inc. increased its holdings in Invesco by 5.5% in the 1st quarter. Principal Financial Group Inc. now owns 824,547 shares of the asset manager’s stock valued at $20,028,000 after acquiring an additional 43,322 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Invesco by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager’s stock valued at $83,356,000 after acquiring an additional 182,060 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.