JPMorgan Chase & Co. downgraded shares of Invesco (NYSE:IVZ) from an overweight rating to a neutral rating in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has $22.00 price objective on the asset manager’s stock.

IVZ has been the subject of a number of other research reports. Jefferies Financial Group lowered shares of Invesco from a buy rating to a hold rating and dropped their target price for the stock from $24.00 to $23.00 in a research report on Friday, June 7th. Deutsche Bank set a $21.00 target price on shares of Invesco and gave the stock a hold rating in a research report on Friday, July 26th. Zacks Investment Research lowered shares of Invesco from a buy rating to a hold rating in a research report on Wednesday, May 22nd. Barclays set a $21.00 target price on shares of Invesco and gave the stock a hold rating in a research report on Friday, July 26th. Finally, Citigroup set a $20.00 target price on shares of Invesco and gave the stock a hold rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $21.73.

IVZ stock traded up $0.14 during midday trading on Thursday, reaching $17.40. 6,537,780 shares of the company’s stock traded hands, compared to its average volume of 4,841,055. Invesco has a 52-week low of $15.15 and a 52-week high of $24.88. The stock has a market cap of $8.11 billion, a P/E ratio of 7.16, a PEG ratio of 0.83 and a beta of 1.53. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock’s 50-day moving average is $16.70 and its 200 day moving average is $19.42.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Thursday, July 25th. The asset manager reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Invesco had a net margin of 11.45% and a return on equity of 10.23%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, research analysts expect that Invesco will post 2.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.24 annualized dividend and a yield of 7.13%. Invesco’s dividend payout ratio (DPR) is currently 51.03%.

Hedge funds have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group lifted its position in Invesco by 100.0% during the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 669 shares during the last quarter. Parallel Advisors LLC lifted its position in Invesco by 58.8% during the first quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 532 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Invesco during the second quarter valued at $29,000. Asset Dedication LLC lifted its position in Invesco by 142.9% during the second quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in Invesco by 333.3% during the second quarter. Captrust Financial Advisors now owns 1,837 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 1,413 shares during the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

About Invesco

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.

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Analyst Recommendations for Invesco (NYSE:IVZ)

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