Invesco (NYSE:IVZ) Sets New 52-Week High – Should You Buy?

Invesco Ltd. (NYSE:IVZ) reached a new 52-week high on Wednesday . The stock traded as high as $18.89 and last traded at $18.79, with a volume of 39238 shares changing hands. The stock had previously closed at $17.86.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IVZ. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their target price on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Barclays increased their price target on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Evercore ISI lifted their price objective on Invesco from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 23rd. Finally, UBS Group raised their target price on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Invesco has an average rating of “Hold” and an average price target of $18.38.

Invesco Trading Up 3.7 %

The company has a market capitalization of $8.33 billion, a PE ratio of -19.41, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The company’s fifty day moving average is $17.27 and its 200-day moving average is $16.23.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The firm’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. On average, analysts anticipate that Invesco Ltd. will post 1.69 EPS for the current fiscal year.

Invesco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.205 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.43%. Invesco’s dividend payout ratio is presently -89.13%.

Institutional Investors Weigh In On Invesco

A number of large investors have recently modified their holdings of the business. Family Firm Inc. purchased a new stake in Invesco during the 2nd quarter worth approximately $28,000. Sentry Investment Management LLC acquired a new position in shares of Invesco in the second quarter valued at about $30,000. Allworth Financial LP raised its stake in shares of Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,806 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Invesco in the first quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC increased its holdings in Invesco by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after buying an additional 1,210 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.