Shares of Invesco Ltd. (NYSE:IVZ) have earned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $18.85.
Several brokerages have commented on IVZ. ValuEngine cut shares of Invesco from a “sell” rating to a “strong sell” rating in a research report on Friday, November 8th. BMO Capital Markets initiated coverage on shares of Invesco in a research report on Monday, October 7th. They issued a “market perform” rating and a $18.00 price target for the company. JPMorgan Chase & Co. cut shares of Invesco from an “overweight” rating to a “neutral” rating and set a $22.00 price target for the company. in a research report on Thursday, September 12th. Wells Fargo & Co reissued a “market perform” rating and issued a $17.00 price target (down from $23.00) on shares of Invesco in a research report on Thursday, October 10th. Finally, Citigroup set a $16.50 price target on shares of Invesco and gave the company a “hold” rating in a research report on Friday, October 25th.
IVZ stock traded down $0.27 during midday trading on Wednesday, hitting $17.29. The company’s stock had a trading volume of 4,916,986 shares, compared to its average volume of 4,767,155. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. Invesco has a 52-week low of $15.15 and a 52-week high of $22.18. The firm has a market capitalization of $7.97 billion, a P/E ratio of 7.12, a PEG ratio of 0.87 and a beta of 1.55. The firm has a 50-day simple moving average of $17.01 and a 200-day simple moving average of $18.11.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 7.17%. Invesco’s dividend payout ratio (DPR) is presently 51.03%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. TRUE Private Wealth Advisors acquired a new position in Invesco during the 2nd quarter worth about $29,000. Quest Capital Management Inc. ADV acquired a new position in shares of Invesco in the third quarter worth approximately $28,000. Asset Dedication LLC lifted its stake in shares of Invesco by 142.9% in the second quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. Captrust Financial Advisors lifted its stake in shares of Invesco by 333.3% in the second quarter. Captrust Financial Advisors now owns 1,837 shares of the asset manager’s stock worth $38,000 after acquiring an additional 1,413 shares during the period. Finally, Gables Capital Management Inc. lifted its stake in shares of Invesco by 77.1% in the third quarter. Gables Capital Management Inc. now owns 1,837 shares of the asset manager’s stock worth $29,000 after acquiring an additional 800 shares during the period. 66.83% of the stock is owned by hedge funds and other institutional investors.
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.
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