The Goldman Sachs Group Boosts Invesco (NYSE:IVZ) Price Target to $20.75

Invesco (NYSE:IVZ) had its price objective upped by The Goldman Sachs Group from $19.00 to $20.75 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Several other analysts also recently commented on IVZ. UBS Group increased their price objective on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada began coverage on Invesco in a research note on Tuesday. They issued a “sector perform” rating and a $19.00 price objective for the company. Morgan Stanley lowered their price objective on Invesco from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays increased their price objective on Invesco from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Invesco has an average rating of “Hold” and a consensus price target of $19.71.

Invesco Price Performance

IVZ stock opened at $18.99 on Wednesday. The stock’s 50 day simple moving average is $17.67 and its 200 day simple moving average is $17.28. Invesco has a fifty-two week low of $14.16 and a fifty-two week high of $19.49. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. Equities research analysts forecast that Invesco will post 1.7 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.32%. The ex-dividend date is Friday, February 14th. Invesco’s dividend payout ratio (DPR) is -89.13%.

Hedge Funds Weigh In On Invesco

Several institutional investors and hedge funds have recently bought and sold shares of IVZ. Public Sector Pension Investment Board grew its holdings in Invesco by 12.3% during the second quarter. Public Sector Pension Investment Board now owns 75,751 shares of the asset manager’s stock valued at $1,133,000 after purchasing an additional 8,317 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Invesco by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 319,240 shares of the asset manager’s stock valued at $4,776,000 after purchasing an additional 2,451 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Invesco by 19.3% in the second quarter. Mackenzie Financial Corp now owns 57,647 shares of the asset manager’s stock worth $862,000 after acquiring an additional 9,336 shares during the period. Algert Global LLC bought a new position in shares of Invesco in the second quarter worth $551,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Invesco by 1.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock worth $1,001,000 after acquiring an additional 946 shares during the period. 66.09% of the stock is owned by 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.