Invesco (NYSE:IVZ) Given New $16.00 Price Target at Citigroup

Invesco (NYSE:IVZ - Free Report) had its price target cut by Citigroup from $20.00 to $16.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the asset manager's stock.

A number of other research analysts have also commented on the company. Morgan Stanley upped their price target on Invesco from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price target on Invesco from $17.00 to $19.50 and gave the company an "underweight" rating in a research report on Wednesday, January 29th. Barclays raised their price objective on Invesco from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Royal Bank of Canada assumed coverage on shares of Invesco in a research report on Tuesday, January 28th. They issued a "sector perform" rating and a $19.00 target price on the stock. Finally, TD Cowen dropped their price objective on shares of Invesco from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $19.30.

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Invesco Price Performance

IVZ traded down $1.05 on Monday, reaching $12.78. The company had a trading volume of 13,888,908 shares, compared to its average volume of 4,133,761. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. Invesco has a 52-week low of $12.36 and a 52-week high of $19.55. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.98 and a beta of 1.26. The business has a 50 day simple moving average of $16.94 and a 200 day simple moving average of $17.39.

Invesco (NYSE:IVZ - Get Free Report) last released its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. As a group, sell-side analysts anticipate that Invesco will post 1.87 EPS for the current year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were issued a dividend of $0.205 per share. The ex-dividend date was Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a yield of 6.41%. Invesco's dividend payout ratio is currently 69.49%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Harmony Asset Management LLC increased its stake in shares of Invesco by 1.0% in the third quarter. Harmony Asset Management LLC now owns 61,400 shares of the asset manager's stock worth $1,078,000 after purchasing an additional 600 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Invesco by 1.5% during the fourth quarter. D.A. Davidson & CO. now owns 46,707 shares of the asset manager's stock valued at $816,000 after acquiring an additional 677 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Invesco by 6.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,133 shares of the asset manager's stock valued at $195,000 after acquiring an additional 710 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Invesco by 18.3% in the fourth quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager's stock worth $91,000 after acquiring an additional 801 shares during the period. Finally, Arizona State Retirement System increased its position in Invesco by 0.8% in the fourth quarter. Arizona State Retirement System now owns 97,956 shares of the asset manager's stock worth $1,712,000 after purchasing an additional 812 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

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.