Invesco (NYSE:IVZ) Hits New 52-Week High – Here’s Why

Invesco Ltd. (NYSE:IVZ)’s stock price reached a new 52-week high on Monday . The stock traded as high as $27.70 and last traded at $27.75, with a volume of 596728 shares traded. The stock had previously closed at $26.94.

Analysts Set New Price Targets

Several research firms have recently commented on IVZ. Deutsche Bank Aktiengesellschaft upgraded shares of Invesco from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $26.00 to $31.00 in a research note on Wednesday, December 17th. Wall Street Zen lowered Invesco from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Zacks Research downgraded Invesco from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Bank of America increased their price objective on Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Finally, Royal Bank Of Canada upped their price objective on shares of Invesco from $23.00 to $25.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and an average price target of $24.70.

Invesco Price Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a fifty day simple moving average of $25.16 and a 200-day simple moving average of $22.43. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 0.52 and a beta of 1.65.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 9.11%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company earned $0.44 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, equities research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.0%. Invesco’s payout ratio is presently 57.14%.

Insider Buying and Selling at Invesco

In other news, Director Douglas J. Sharp sold 160,000 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the sale, the director directly owned 192 shares of the company’s stock, valued at $4,523.52. This represents a 99.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On Invesco

Institutional investors and hedge funds have recently modified their holdings of the business. Capital A Wealth Management LLC boosted its position in Invesco by 4,802.9% during the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock worth $26,000 after purchasing an additional 1,633 shares in the last quarter. CNB Bank acquired a new position in shares of Invesco during the 3rd quarter worth approximately $26,000. Root Financial Partners LLC purchased a new position in shares of Invesco during the 3rd quarter valued at approximately $30,000. Sentry Investment Management LLC purchased a new position in shares of Invesco during the 3rd quarter valued at approximately $30,000. Finally, IFP Advisors Inc grew its stake in Invesco by 55.7% in the 2nd quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 761 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

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.