Invesco Ltd. (NYSE: IVZ) has received a consensus rating of “Hold” from fifteen research firms currently covering the stock, according to Marketbeat. Of these analysts, nine have recommended holding the stock, five have assigned a buy rating, and one has issued a strong buy recommendation. The average price target over the next year is set at approximately $28.46, reflecting the mixed sentiments among analysts regarding the company’s prospects.
Analyst Ratings and Price Targets
Several notable analysts have recently adjusted their price targets for Invesco. BMO Capital Markets has raised its target from $28.00 to $30.00, while also upgrading the company’s rating to “outperform.” Meanwhile, The Goldman Sachs Group adjusted its price objective from $29.50 to $30.00 and maintained a “neutral” rating. On the other hand, Deutsche Bank Aktiengesellschaft elevated its rating from “hold” to “buy” and set a price target of $31.00. In contrast, Fundamental Research set a more conservative price objective at $27.00.
Invesco’s stock traded up by 0.4% on the New York Stock Exchange, opening at $26.46. The company currently has a market capitalization of $11.78 billion and a price-to-earnings (P/E) ratio of -16.54. The stock’s performance over the past year has seen a low of $11.60 and a high of $29.61, highlighting its significant volatility.
Quarterly Earnings and Dividend Announcement
Invesco reported its quarterly earnings on January 27, 2023, announcing earnings per share (EPS) of $0.62, surpassing analysts’ expectations of $0.58 by $0.04. Total revenue for the quarter reached $1.26 billion, exceeding forecasts of $1.24 billion. This represents a year-over-year revenue increase of 6.1%, with the company having posted an EPS of $0.52 during the same quarter the previous year. Analysts forecast that Invesco will achieve an EPS of $1.87 for the current fiscal year.
Additionally, the firm has announced a quarterly dividend of $0.21 per share, which is set to be paid on March 3, 2023, to investors of record on February 13, 2023. This dividend represents an annual yield of 3.2% and reflects a payout ratio of -52.50%.
Institutional Investments in Invesco
Recent activity among institutional investors has seen fluctuations in their stakes in Invesco. Integrated Wealth Concepts LLC acquired a new position in Invesco valued at $563,000 in the first quarter. Meanwhile, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings by 7.2%, now owning 35,767 shares valued at $543,000. Additionally, Woodline Partners LP enhanced its stake by 40.2%, bringing its total to 37,850 shares worth $574,000.
Overall, approximately 66.09% of Invesco’s stock is currently held by hedge funds and other institutional investors, indicating a robust interest in the asset management firm.
Invesco Ltd., headquartered in Atlanta, Georgia, is an independent global investment management firm with a rich history dating back to 1935. The company focuses on offering a diverse range of investment strategies and solutions for both individual and institutional clients worldwide, including actively managed funds, ETFs, and specialized offerings in private markets and real estate.
