Invesco (NYSE:IVZ) Given New $16.00 Price Target at JPMorgan Chase & Co.

Invesco (NYSE:IVZ - Free Report) had its target price lowered by JPMorgan Chase & Co. from $19.00 to $16.00 in a report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager's stock.

Several other analysts have also recently issued reports on IVZ. Wells Fargo & Company reduced their price objective on Invesco from $19.50 to $14.50 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered their price objective on Invesco from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. 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. Royal Bank of Canada initiated coverage on shares of Invesco in a research report on Tuesday, January 28th. They issued a "sector perform" rating and a $19.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of Invesco from $17.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $17.03.

Invesco Trading Down 2.9 %

Shares of IVZ traded down $0.37 during midday trading on Wednesday, hitting $12.43. 7,736,902 shares of the stock were exchanged, compared to its average volume of 4,299,111. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a market cap of $5.56 billion, a P/E ratio of 10.53, a P/E/G ratio of 0.98 and a beta of 1.26. Invesco has a 52-week low of $11.60 and a 52-week high of $19.55. The stock has a fifty day simple moving average of $15.41 and a 200 day simple moving average of $16.99.

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

Invesco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Friday, February 14th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date was Friday, February 14th. Invesco's dividend payout ratio is currently 69.49%.

Institutional Investors Weigh In On Invesco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Invesco by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager's stock valued at $900,127,000 after purchasing an additional 419,389 shares during the period. Dimensional Fund Advisors LP raised its position in Invesco by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,104,545 shares of the asset manager's stock worth $351,430,000 after buying an additional 274,134 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Invesco by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 10,383,206 shares of the asset manager's stock worth $181,281,000 after acquiring an additional 134,726 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Invesco by 38.5% in the fourth quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager's stock valued at $142,385,000 after acquiring an additional 2,264,551 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Invesco by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 6,380,191 shares of the asset manager's stock worth $111,526,000 after acquiring an additional 31,854 shares during the period. 66.09% of the stock is owned by hedge funds and other 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.