Invesco (NYSE:IVZ) Given New $18.00 Price Target at Keefe, Bruyette & Woods

Invesco (NYSE:IVZ - Free Report) had its target price lowered by Keefe, Bruyette & Woods from $19.00 to $18.00 in a report published on Friday,Benzinga reports. The firm currently has a market perform rating on the asset manager's stock.

Other equities research analysts have also issued reports about the stock. StockNews.com raised shares of Invesco from a "sell" rating to a "hold" rating in a report on Friday, October 18th. UBS Group raised their target price on Invesco from $17.50 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on Invesco from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Wells Fargo & Company raised their price objective on Invesco from $16.50 to $17.50 and gave the company an "underweight" rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their target price on Invesco from $18.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 23rd. 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. According to data from MarketBeat.com, Invesco currently has a consensus rating of "Hold" and an average target price of $18.88.

Invesco Stock Up 3.3 %

Shares of IVZ traded up $0.55 during midday trading on Friday, reaching $17.33. 8,594,831 shares of the company were exchanged, compared to its average volume of 4,121,861. Invesco has a 1-year low of $14.16 and a 1-year high of $18.94. The stock has a 50-day moving average price of $17.88 and a 200-day moving average price of $16.80. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.79 billion, a price-to-earnings ratio of -18.84, a P/E/G ratio of 1.06 and a beta of 1.43.

Invesco (NYSE:IVZ - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company posted $0.35 EPS. Invesco's revenue for the quarter was down 20.8% on a year-over-year basis. Research analysts expect that Invesco will post 1.69 earnings per share for the current year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th were issued a $0.205 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a yield of 4.73%. Invesco's dividend payout ratio is currently -89.13%.

Institutional Trading of Invesco

A number of institutional investors and hedge funds have recently made changes to their positions in IVZ. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Invesco by 27.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,982 shares of the asset manager's stock valued at $194,000 after buying an additional 2,815 shares during the last quarter. Raymond James & Associates lifted its position in Invesco by 34.8% in the 2nd quarter. Raymond James & Associates now owns 89,610 shares of the asset manager's stock valued at $1,341,000 after purchasing an additional 23,120 shares during the last quarter. Fifth Third Bancorp boosted its stake in Invesco by 6.1% during the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager's stock valued at $249,000 after purchasing an additional 963 shares during the period. Family Firm Inc. bought a new position in Invesco in the 2nd quarter worth about $28,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Invesco by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager's stock valued at $37,241,000 after purchasing an additional 30,016 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Company Profile

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.