Invesco Ltd. (NYSE:IVZ) has received a consensus rating of “Hold” from fifteen research firms currently covering the stock, according to Marketbeat. Among these analysts, nine have recommended holding the stock, five have given it a buy rating, and one has issued a strong buy recommendation. The average target price set by these brokerages for the next year is approximately $28.46.
Several notable firms have recently adjusted their price targets for Invesco. On December 10, 2023, BMO Capital Markets raised their target price from $28.00 to $30.00, assigning an “outperform” rating. Following this, on February 12, 2024, The Goldman Sachs Group increased its price objective from $29.50 to $30.00, maintaining a “neutral” rating. Fundamental Research established a lower price target of $27.00 on October 31, 2023, while Weiss Ratings reiterated a “hold (c+)” rating on December 29, 2023. Most recently, on December 17, 2023, Deutsche Bank Aktiengesellschaft upgraded Invesco from a “hold” to a “buy” rating, raising its price target from $26.00 to $31.00.
Recent Performance and Financials
As of the latest trading session, Invesco shares opened at $26.46, reflecting a slight increase of 0.4%. The company currently maintains a market capitalization of $11.78 billion and has a price-to-earnings (P/E) ratio of -16.54. Invesco’s financial ratios show a current ratio of 1.23, a quick ratio of 1.23, and a debt-to-equity ratio of 0.83. Over the past year, the stock has seen a low of $11.60 and a high of $29.61. The fifty-day moving average price is $27.36, while the 200-day moving average stands at $24.51.
Invesco’s quarterly earnings report, released on January 27, 2024, revealed earnings per share (EPS) of $0.62, surpassing analysts’ expectations of $0.58 by $0.04. The firm reported revenue of $1.26 billion, which exceeded the projected $1.24 billion. Year-over-year, revenue increased by 6.1%, compared to $0.52 EPS in the same quarter last year. Analysts forecast that Invesco will achieve an EPS of $1.87 for the current fiscal year.
Dividend Announcement and Institutional Holdings
Invesco has also announced a quarterly dividend of $0.21 per share, which is scheduled for payment on March 3, 2024. Investors on record as of February 13, 2024, will be eligible for this dividend. This results in an annualized dividend of $0.84, corresponding to a yield of 3.2%. Notably, the company’s dividend payout ratio currently stands at -52.50%.
Institutional investors have been active in adjusting their stakes in Invesco. For instance, Integrated Wealth Concepts LLC acquired a new position worth $563,000 in the first quarter. Additionally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings by 7.2%, now owning 35,767 shares valued at approximately $543,000. Woodline Partners LP boosted its stake by 40.2%, bringing its total to 37,850 shares valued at $574,000. Furthermore, UBS AM, a distinct business unit of UBS Asset Management Americas LLC, grew its position by 1.2%, holding over 1 million shares valued at $15.88 million.
Overall, approximately 66.09% of Invesco’s stock is currently owned by hedge funds and other institutional investors.
Invesco Ltd., headquartered in Atlanta, Georgia, is a global investment management firm founded in 1935. The company offers a diverse range of investment strategies and solutions tailored for both individual and institutional clients worldwide, including actively managed equity and fixed income funds, passive index funds, and exchange-traded funds (ETFs).
