Invesco (NYSE:IVZ) Sets New 52-Week High After Analyst Upgrade

Invesco Ltd. (NYSE:IVZ) hit a new 52-week high during trading on Wednesday after Royal Bank Of Canada upgraded the stock from a sector perform rating to an outperform rating. Royal Bank Of Canada now has a $35.00 price target on the stock, up from their previous price target of $25.00. Invesco traded as high as $29.55 and last traded at $29.1610, with a volume of 3297753 shares changing hands. The stock had previously closed at $27.91.

Several other equities analysts have also weighed in on IVZ. Evercore ISI lifted their price target on Invesco from $24.00 to $26.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Barclays increased their target price on Invesco from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Bank of America increased their price objective on shares of Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Wall Street Zen raised shares of Invesco from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Citigroup raised their price target on shares of Invesco from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Six research 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 currently has a consensus rating of “Hold” and a consensus price target of $26.36.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IVZ. KLP Kapitalforvaltning AS lifted its stake in Invesco by 46.1% during the second quarter. KLP Kapitalforvaltning AS now owns 96,300 shares of the asset manager’s stock worth $1,519,000 after purchasing an additional 30,400 shares in the last quarter. Aviance Capital Partners LLC acquired a new position in Invesco during the 3rd quarter worth about $1,013,000. First Trust Advisors LP boosted its holdings in Invesco by 5,065.4% during the 2nd quarter. First Trust Advisors LP now owns 3,380,933 shares of the asset manager’s stock valued at $53,317,000 after acquiring an additional 3,315,480 shares during the period. Asset Management One Co. Ltd. grew its position in Invesco by 729.1% in the 2nd quarter. Asset Management One Co. Ltd. now owns 108,246 shares of the asset manager’s stock valued at $1,707,000 after acquiring an additional 95,190 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Invesco by 12.1% during the second quarter. Legal & General Group Plc now owns 884,579 shares of the asset manager’s stock worth $13,950,000 after purchasing an additional 95,316 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Trading Up 4.6%

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 firm has a market cap of $12.99 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 0.50 and a beta of 1.65. The company’s 50 day moving average price is $26.17 and its 200 day moving average price is $23.32.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 9.11%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Friday, November 14th were issued a $0.21 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.9%. Invesco’s dividend payout ratio (DPR) is 57.14%.

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.