Invesco (NYSE:IVZ) Downgraded by ValuEngine

ValuEngine cut shares of Invesco (NYSE:IVZ) from a sell rating to a strong sell rating in a research note released on Friday morning, ValuEngine reports.

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Several other equities analysts have also recently issued reports on the company. Wells Fargo & Co lifted their price objective on Invesco from $17.00 to $18.00 and gave the stock a market perform rating in a report on Thursday, October 24th. Morgan Stanley set a $18.00 price objective on Invesco and gave the stock a hold rating in a report on Friday, October 25th. JPMorgan Chase & Co. cut Invesco from an overweight rating to a neutral rating and set a $22.00 price objective for the company. in a report on Thursday, September 12th. Barclays lifted their price objective on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a report on Thursday, October 24th. Finally, Evercore ISI cut Invesco from an in-line rating to an underperform rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. Invesco presently has an average rating of Hold and a consensus price target of $19.14.

Shares of IVZ traded down $0.05 during mid-day trading on Friday, hitting $17.82. The company’s stock had a trading volume of 3,852,593 shares, compared to its average volume of 4,864,206. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.78. The firm has a 50-day simple moving average of $16.58 and a 200 day simple moving average of $18.52. The firm has a market capitalization of $8.22 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.90 and a beta of 1.54. Invesco has a 1-year low of $15.15 and a 1-year high of $22.18.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.70 EPS for the quarter, beating the consensus estimate of $0.57 by $0.13. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Invesco had a return on equity of 10.60% and a net margin of 8.86%. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. As a group, sell-side analysts predict that Invesco will post 2.58 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 6.96%. Invesco’s dividend payout ratio is presently 51.03%.

Hedge funds have recently modified their holdings of the stock. IHT Wealth Management LLC purchased a new position in Invesco during the second quarter worth $362,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Invesco by 26.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,070 shares of the asset manager’s stock worth $2,518,000 after buying an additional 25,633 shares in the last quarter. CIBC Asset Management Inc increased its position in Invesco by 27.1% during the second quarter. CIBC Asset Management Inc now owns 168,172 shares of the asset manager’s stock worth $3,441,000 after buying an additional 35,871 shares in the last quarter. AGF Investments America Inc. increased its position in Invesco by 1.9% during the second quarter. AGF Investments America Inc. now owns 68,673 shares of the asset manager’s stock worth $1,405,000 after buying an additional 1,250 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its position in Invesco by 82.0% during the second quarter. Aviance Capital Partners LLC now owns 80,435 shares of the asset manager’s stock worth $1,646,000 after buying an additional 36,229 shares in the last quarter. 67.25% of the stock is owned by hedge funds and other institutional investors.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Invesco (NYSE:IVZ)

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