Invesco (NYSE:IVZ) Hits New 1-Year Low Following Analyst Downgrade

Invesco Ltd. (NYSE:IVZ - Get Free Report)'s stock price reached a new 52-week low on Wednesday after Evercore ISI lowered their price target on the stock from $18.00 to $13.00. Evercore ISI currently has an in-line rating on the stock. Invesco traded as low as $11.60 and last traded at $11.96, with a volume of 278331 shares trading hands. The stock had previously closed at $12.14.

A number of other equities research analysts have also weighed in on the company. Barclays lifted their price objective on Invesco from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on shares of Invesco from $19.50 to $14.50 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $20.00 target price (up previously from $18.00) on shares of Invesco in a research note on Wednesday, January 29th. TD Cowen downgraded shares of Invesco from a "buy" rating to a "hold" rating and decreased their price target for the stock from $22.00 to $13.00 in a research note on Wednesday, April 9th. Finally, Bank of America cut their price objective on Invesco from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Invesco currently has an average rating of "Hold" and a consensus price target of $18.10.

Institutional Investors Weigh In On Invesco

A number of institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Invesco in the 3rd quarter valued at approximately $35,000. Colonial Trust Co SC purchased a new stake in shares of Invesco during the fourth quarter valued at $38,000. Aster Capital Management DIFC Ltd increased its holdings in Invesco by 180.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager's stock worth $42,000 after buying an additional 1,531 shares in the last quarter. Crews Bank & Trust purchased a new position in Invesco in the 4th quarter worth about $44,000. Finally, Resona Asset Management Co. Ltd. bought a new position in Invesco during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 66.09% of the company's stock.

Invesco Stock Performance

The business's fifty day moving average price is $16.01 and its 200-day moving average price is $17.15. The stock has a market cap of $5.80 billion, a PE ratio of 10.98, a P/E/G ratio of 0.98 and a beta of 1.26. 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 (NYSE:IVZ - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts forecast that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were given a $0.205 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 annualized dividend and a yield of 6.33%. Invesco's payout ratio is 69.49%.

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.