Wells Fargo & Company Issues Pessimistic Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price objective trimmed by Wells Fargo & Company from $19.50 to $14.50 in a report released on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

A number of other brokerages also recently weighed in on IVZ. TD Cowen lowered their price objective on shares of Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. UBS Group increased their price target on Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley lifted their price objective on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. BMO Capital Markets upped their price objective on Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $20.00 target price (up from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.57.

Invesco Stock Down 7.3 %

Invesco stock opened at $12.66 on Tuesday. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.98 and a beta of 1.26. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco has a 12 month low of $11.60 and a 12 month high of $19.55. The stock has a fifty day simple moving average of $16.12 and a two-hundred day simple moving average of $17.18.

Invesco (NYSE:IVZ) last issued its 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 return on equity of 8.18% and a net margin of 12.77%. Equities analysts predict that Invesco will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Friday, February 14th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date was Friday, February 14th. Invesco’s payout ratio is 69.49%.

Hedge Funds Weigh In On Invesco

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Invesco during the 3rd quarter valued at $35,000. Colonial Trust Co SC purchased a new stake in shares of Invesco during the fourth quarter worth about $38,000. Aster Capital Management DIFC Ltd raised its stake in Invesco by 180.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 1,531 shares during the period. Crews Bank & Trust purchased a new position in Invesco in the 4th quarter worth approximately $44,000. Finally, Versant Capital Management Inc boosted its stake in Invesco by 264.1% in the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager’s stock worth $47,000 after purchasing an additional 2,234 shares during the period. 66.09% of the stock is currently 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.