Invesco Ltd. (IVZ) Receives Average Rating of “Buy” from Brokerages
Shares of Invesco Ltd. (NYSE:IVZ) have earned a consensus recommendation of “Buy” from the sixteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $40.08.
Several research analysts have recently weighed in on the company. Deutsche Bank upgraded Invesco from a “hold” rating to a “buy” rating and decreased their price target for the stock from $39.00 to $38.00 in a research note on Tuesday. Morgan Stanley restated an “equal weight” rating and issued a $40.00 price target (up previously from $39.00) on shares of Invesco in a research note on Wednesday, February 7th. Royal Bank of Canada restated a “buy” rating and issued a $41.00 price target on shares of Invesco in a research note on Friday, October 27th. Credit Suisse Group restated a “buy” rating on shares of Invesco in a research note on Thursday, February 1st. Finally, Zacks Investment Research upgraded Invesco from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Friday, February 9th.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Profund Advisors LLC grew its holdings in shares of Invesco by 30.5% in the fourth quarter. Profund Advisors LLC now owns 12,541 shares of the asset manager’s stock worth $458,000 after acquiring an additional 2,928 shares during the period. MANA Advisors LLC bought a new stake in shares of Invesco in the fourth quarter worth $711,000. Renaissance Technologies LLC grew its holdings in shares of Invesco by 210.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,713,900 shares of the asset manager’s stock worth $62,626,000 after acquiring an additional 1,162,175 shares during the period. Kiltearn Partners LLP grew its holdings in shares of Invesco by 2.5% in the fourth quarter. Kiltearn Partners LLP now owns 5,949,210 shares of the asset manager’s stock worth $217,384,000 after acquiring an additional 145,800 shares during the period. Finally, Koch Industries Inc. bought a new stake in shares of Invesco in the fourth quarter worth $780,000. 80.36% of the stock is owned by institutional investors.
Invesco (NYSE:IVZ) last posted its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Invesco had a return on equity of 13.51% and a net margin of 21.85%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $982.86 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. research analysts expect that Invesco will post 3.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Thursday, February 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Wednesday, February 14th. Invesco’s payout ratio is currently 42.34%.
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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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