Invesco (NYSE:IVZ) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Invesco Ltd. (NYSE:IVZ)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $27.99 and traded as high as $29.10. Invesco shares last traded at $28.9080, with a volume of 7,845,410 shares trading hands.

Analyst Upgrades and Downgrades

IVZ has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Invesco in a research note on Friday, September 25th. Morgan Stanley boosted their price target on Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday, October 22nd. Royal Bank Of Canada upped their price objective on Invesco from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. increased their price objective on Invesco from $29.00 to $29.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered Invesco from a “buy” rating to a “hold” rating in a report on Sunday, October 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Invesco presently has an average rating of “Moderate Buy” and a consensus price target of $33.79.

Invesco Trading Down 0.8%

The firm has a market cap of $12.70 billion, a PE ratio of -41.51, a P/E/G ratio of 0.43 and a beta of 1.69. The company’s fifty day moving average price is $29.84 and its two-hundred day moving average price is $27.98. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.96.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, October 27th. The asset manager reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Invesco had a positive return on equity of 13.49% and a negative net margin of 1.10%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 earnings per share. As a group, sell-side analysts forecast that Invesco Ltd. will post 2.80 earnings per share for the current fiscal year.

Invesco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be paid a dividend of $0.2150 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 13th. Invesco’s dividend payout ratio is -124.64%.

Insiders Place Their Bets

In related news, Director Andrew Tak Shing Lo sold 100,840 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $32.20, for a total transaction of $3,247,048.00. Following the transaction, the director owned 812,477 shares of the company’s stock, valued at $26,161,759.40. This represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephanie Butcher sold 45,095 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $32.28, for a total value of $1,455,666.60. Following the completion of the transaction, the director owned 10,205 shares of the company’s stock, valued at $329,417.40. The trade was a 81.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 222,540 shares of company stock valued at $7,227,167 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. boosted its stake in shares of Invesco by 144.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 930 shares of the asset manager’s stock worth $28,000 after acquiring an additional 550 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in Invesco in the 3rd quarter valued at approximately $28,000. Elevation Wealth Partners LLC increased its stake in Invesco by 141.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,010 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 591 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Invesco by 120.9% during the third quarter. Fortitude Family Office LLC now owns 1,089 shares of the asset manager’s stock worth $33,000 after purchasing an additional 596 shares during the last quarter. Finally, Continuum Advisory LLC acquired a new position in Invesco during the second quarter worth $39,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

About Invesco

Invesco Ltd. is a global investment management company headquartered in Atlanta, Georgia. It provides investment products and services to individual investors, financial professionals, institutions and other organizations. Its offerings include mutual funds and exchange-traded funds, as well as investment strategies and portfolio management across a range of asset classes and approaches, including active and index investing. Invesco also serves institutional clients with investment solutions tailored to their needs.