Invesco (NYSE:IVZ) Price Target Raised to $20.00 at Evercore ISI

Invesco (NYSE:IVZ - Free Report) had its price objective increased by Evercore ISI from $19.00 to $20.00 in a research report sent to investors on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager's stock.

A number of other brokerages also recently issued reports on IVZ. Barclays raised their target price on Invesco from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Invesco from a "sell" rating to a "hold" rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price target on Invesco from $17.50 to $19.50 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Invesco from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company increased their price target on Invesco from $16.50 to $17.50 and gave the stock an "underweight" rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $18.46.

Invesco Trading Down 1.7 %

Shares of IVZ traded down $0.31 during midday trading on Thursday, reaching $18.28. The company had a trading volume of 2,796,935 shares, compared to its average volume of 4,223,337. Invesco has a 1-year low of $12.68 and a 1-year high of $18.94. The stock has a market cap of $8.23 billion, a PE ratio of -20.21, a price-to-earnings-growth ratio of 1.00 and a beta of 1.44. The firm has a 50 day simple moving average of $17.30 and a 200-day simple moving average of $16.24. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66.

Invesco (NYSE:IVZ - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.35 EPS. The company's revenue for the quarter was down 20.8% on a year-over-year basis. Research analysts forecast that Invesco will post 1.69 EPS for the current fiscal year.

Invesco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Thursday, November 14th. Invesco's payout ratio is presently -89.13%.

Hedge Funds Weigh In On Invesco

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Claro Advisors LLC purchased a new position in shares of Invesco in the 3rd quarter valued at about $283,000. CIBC Asset Management Inc boosted its stake in shares of Invesco by 8.3% in the 3rd quarter. CIBC Asset Management Inc now owns 62,964 shares of the asset manager's stock valued at $1,106,000 after buying an additional 4,840 shares during the period. KBC Group NV boosted its stake in shares of Invesco by 13.9% in the 3rd quarter. KBC Group NV now owns 24,714 shares of the asset manager's stock valued at $434,000 after buying an additional 3,014 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Invesco by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 141,469 shares of the asset manager's stock valued at $2,484,000 after buying an additional 6,134 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Invesco by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,149 shares of the asset manager's stock worth $248,000 after acquiring an additional 1,167 shares in the last quarter. Hedge funds and other institutional investors own 66.09% 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.