Royal Bank of Canada Reiterates $47.00 Price Target for Invesco (IVZ)
Several other research firms also recently weighed in on IVZ. Citigroup lifted their target price on Invesco from $43.00 to $44.00 and gave the stock a buy rating in a research report on Friday, October 27th. ValuEngine upgraded Invesco from a hold rating to a buy rating in a research report on Wednesday, December 6th. Zacks Investment Research downgraded Invesco from a buy rating to a hold rating in a research report on Thursday, October 12th. Wells Fargo & Company lifted their price objective on Invesco from $38.00 to $40.00 and gave the company an outperform rating in a report on Wednesday, October 11th. Finally, Jefferies Group lifted their price objective on Invesco from $41.00 to $42.00 and gave the company a buy rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Invesco currently has an average rating of Buy and a consensus price target of $39.00.
Shares of Invesco (NYSE:IVZ) opened at $36.81 on Friday. Invesco has a 52-week low of $28.75 and a 52-week high of $37.85. The firm has a market capitalization of $14,882.77, a price-to-earnings ratio of 14.34, a PEG ratio of 1.15 and a beta of 1.81. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50.
The business also recently announced a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Tuesday, November 14th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $1.16 annualized dividend and a yield of 3.15%. Invesco’s dividend payout ratio (DPR) is presently 50.44%.
In other Invesco news, insider Colin Meadows sold 54,215 shares of Invesco stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total value of $1,952,282.15. Following the transaction, the insider now owns 164,420 shares in the company, valued at $5,920,764.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its stake in Invesco by 7.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,344,769 shares of the asset manager’s stock valued at $47,323,000 after purchasing an additional 87,755 shares during the last quarter. Eaton Vance Management grew its stake in Invesco by 247.2% in the second quarter. Eaton Vance Management now owns 452,597 shares of the asset manager’s stock valued at $15,927,000 after purchasing an additional 322,230 shares during the last quarter. Prudential Financial Inc. grew its stake in Invesco by 40.1% in the third quarter. Prudential Financial Inc. now owns 1,547,138 shares of the asset manager’s stock valued at $54,212,000 after purchasing an additional 442,997 shares during the last quarter. Wells Fargo & Company MN grew its stake in Invesco by 17.3% in the second quarter. Wells Fargo & Company MN now owns 1,300,168 shares of the asset manager’s stock valued at $45,754,000 after purchasing an additional 192,018 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Invesco by 2.7% in the second quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after purchasing an additional 1,092,898 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.
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Invesco Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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