BMO Capital Markets Reiterates “Market Perform” Rating for Invesco (NYSE:IVZ)

BMO Capital Markets restated their market perform rating on shares of Invesco (NYSE:IVZ) in a research report report published on Wednesday, Benzinga reports. BMO Capital Markets currently has a $17.00 price target on the asset manager’s stock, down from their prior price target of $18.00.

A number of other equities analysts have also recently commented on IVZ. Morgan Stanley raised their target price on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. TheStreet cut Invesco from a b- rating to a c rating in a report on Friday, February 23rd. StockNews.com raised Invesco from a sell rating to a hold rating in a report on Friday, February 23rd. UBS Group decreased their price target on Invesco from $18.00 to $17.00 and set a neutral rating on the stock in a report on Monday, January 29th. Finally, TD Cowen initiated coverage on Invesco in a report on Thursday, January 4th. They set an outperform rating and a $21.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $16.79.

Invesco Price Performance

Shares of Invesco stock opened at $14.67 on Wednesday. Invesco has a one year low of $12.48 and a one year high of $18.71. The stock’s fifty day moving average is $15.69 and its 200 day moving average is $15.45. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.54.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.38 earnings per share. Invesco’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that Invesco will post 1.68 EPS for the current fiscal year.

Invesco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. This is a positive change from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, May 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%. Invesco’s dividend payout ratio (DPR) is presently -106.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Invesco by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock valued at $246,163,000 after purchasing an additional 2,592,039 shares in the last quarter. Northern Trust Corp grew its position in shares of Invesco by 30.7% during the third quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock valued at $86,306,000 after purchasing an additional 1,395,023 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Invesco by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,034,956 shares of the asset manager’s stock valued at $71,984,000 after purchasing an additional 136,582 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Invesco by 11.1% during the fourth quarter. Fisher Asset Management LLC now owns 3,921,250 shares of the asset manager’s stock valued at $69,955,000 after purchasing an additional 391,935 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Invesco by 1,411.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock valued at $67,016,000 after purchasing an additional 3,507,900 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.