Invesco (NYSE:IVZ) Price Target Cut to $13.00 by Analysts at Evercore ISI

Invesco (NYSE:IVZ) had its price objective lowered by Evercore ISI from $18.00 to $13.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an in-line rating on the asset manager’s stock.

A number of other brokerages have also recently issued reports on IVZ. Bank of America lowered their price objective on Invesco from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. UBS Group upped their price target 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. Barclays raised their price objective on shares of Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company cut their price target on shares of Invesco from $19.50 to $14.50 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada initiated coverage on shares of Invesco in a report on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.10.

Invesco Stock Performance

Shares of NYSE:IVZ opened at $12.76 on Friday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $16.01 and a 200-day moving average price of $17.15. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. Invesco has a 12 month low of $11.60 and a 12 month high of $19.55.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. As a group, equities analysts anticipate that Invesco will post 1.87 EPS for the current year.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were issued a $0.205 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.82 dividend on an annualized basis and a yield of 6.43%. Invesco’s dividend payout ratio is currently 69.49%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Invesco during the third quarter worth approximately $35,000. Colonial Trust Co SC bought a new position in shares of Invesco during the 4th quarter valued at approximately $38,000. Aster Capital Management DIFC Ltd raised its holdings in Invesco by 180.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock valued at $42,000 after buying an additional 1,531 shares during the period. Crews Bank & Trust purchased a new stake in Invesco during the 4th quarter valued at $44,000. Finally, Versant Capital Management Inc lifted its position in Invesco by 264.1% in the first quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager’s stock worth $47,000 after buying an additional 2,234 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

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.