The Goldman Sachs Group Cuts Invesco (NYSE:IVZ) Price Target to $19.00

Invesco (NYSE:IVZ - Free Report) had its price target cut by The Goldman Sachs Group from $19.25 to $19.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the asset manager's stock.

Other analysts have also issued reports about the stock. Morgan Stanley increased their target price on shares of Invesco from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. Royal Bank of Canada increased their price target on shares of Invesco from $18.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, October 23rd. Barclays increased their target price on shares of Invesco from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of Invesco from $16.50 to $17.50 and gave the company an "underweight" rating in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Invesco from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $18.83.

Invesco Stock Performance

Shares of NYSE:IVZ traded down $0.24 during trading on Tuesday, reaching $17.16. 2,251,229 shares of the company's stock traded hands, compared to its average volume of 2,391,507. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. Invesco has a 12 month low of $14.16 and a 12 month high of $18.94. The company has a 50 day moving average of $17.81 and a 200-day moving average of $17.04. The stock has a market capitalization of $7.71 billion, a P/E ratio of -18.65, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The business's revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. On average, equities analysts expect that Invesco will post 1.7 EPS for the current year.

Invesco Dividend Announcement

The business also recently disclosed 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 was Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.78%. Invesco's dividend payout ratio is currently -89.13%.

Hedge Funds Weigh In On Invesco

Several institutional investors and hedge funds have recently modified their holdings of IVZ. Avior Wealth Management LLC lifted its position in Invesco by 484.9% during the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager's stock worth $27,000 after purchasing an additional 1,285 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of Invesco in the 2nd quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Invesco in the 3rd quarter valued at approximately $35,000. Allworth Financial LP raised its holdings in Invesco by 304.0% in the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager's stock valued at $42,000 after buying an additional 1,806 shares during the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in Invesco in the 2nd quarter valued at approximately $61,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.