Invesco PLC (NYSE:IVZ)‘s stock had its “buy” rating restated by stock analysts at Bank of America Corp. in a research report issued on Monday. They presently have a $37.00 price target on the stock. Bank of America Corp.’s price objective points to a potential upside of 20.48% from the stock’s current price.
A number of other research analysts have also issued reports on the stock. Deutsche Bank AG restated a “buy” rating on shares of Invesco PLC in a report on Sunday, July 10th. Jefferies Group restated a “buy” rating and issued a $30.00 target price (down from $35.00) on shares of Invesco PLC in a report on Monday, July 11th. Citigroup Inc. upped their target price on shares of Invesco PLC from $27.00 to $31.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Zacks Investment Research lowered shares of Invesco PLC from a “hold” rating to a “strong sell” rating in a report on Monday, July 11th. Finally, Barclays PLC restated an “overweight” rating and issued a $34.00 target price on shares of Invesco PLC in a report on Friday, July 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Invesco PLC has an average rating of “Buy” and an average target price of $35.85.
Shares of Invesco PLC (NYSE:IVZ) opened at 30.71 on Monday. The stock has a market cap of $12.59 billion, a PE ratio of 15.51 and a beta of 1.97. The company’s 50-day moving average is $30.58 and its 200-day moving average is $29.60. Invesco PLC has a 52-week low of $23.02 and a 52-week high of $35.00.
Invesco PLC (NYSE:IVZ) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. Invesco PLC had a net margin of 17.27% and a return on equity of 11.35%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $853.16 million. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts anticipate that Invesco PLC will post $2.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Thursday, August 18th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Tuesday, August 16th. Invesco PLC’s dividend payout ratio (DPR) is presently 56.57%.
In other Invesco PLC news, Director Edward P. Lawrence sold 1,609 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $30.84, for a total value of $49,621.56. Following the completion of the sale, the director now owns 33,848 shares of the company’s stock, valued at $1,043,872.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ben F. Johnson III acquired 2,000 shares of the stock in a transaction on Monday, August 1st. The stock was purchased at an average cost of $29.24 per share, with a total value of $58,480.00. Following the transaction, the director now directly owns 28,653 shares of the company’s stock, valued at $837,813.72. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of IVZ. Nuveen Asset Management LLC increased its stake in shares of Invesco PLC by 39.8% in the first quarter. Nuveen Asset Management LLC now owns 1,141,298 shares of the company’s stock valued at $35,118,000 after buying an additional 325,008 shares during the period. Retirement Systems of Alabama increased its stake in shares of Invesco PLC by 12.3% in the second quarter. Retirement Systems of Alabama now owns 1,327,328 shares of the company’s stock valued at $33,900,000 after buying an additional 145,534 shares during the period. Geode Capital Management LLC increased its stake in shares of Invesco PLC by 0.8% in the first quarter. Geode Capital Management LLC now owns 3,404,695 shares of the company’s stock valued at $104,552,000 after buying an additional 28,583 shares during the period. Aviva PLC increased its stake in shares of Invesco PLC by 17.6% in the second quarter. Aviva PLC now owns 254,242 shares of the company’s stock valued at $6,493,000 after buying an additional 38,011 shares during the period. Finally, OLD National Bancorp IN increased its stake in shares of Invesco PLC by 4.6% in the first quarter. OLD National Bancorp IN now owns 12,704 shares of the company’s stock valued at $391,000 after buying an additional 557 shares during the period. 82.17% of the stock is owned by institutional investors.
About Invesco PLC
Invesco Ltd. (Invesco) is an independent global investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a diverse set of investment vehicles, to help clients achieve their investment objectives. It operates in the investment management segment.
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