Invesco Ltd. (NYSE: IVZ) has received a consensus rating of “Hold” from fifteen research firms monitoring the stock, according to a report by Marketbeat. Among these analysts, nine recommend holding the stock, five suggest a buy, and one analyst has issued a strong buy recommendation. The average price target for Invesco shares over the next year stands at approximately $28.46.
Several analysts have recently adjusted their ratings and price targets for Invesco. Notably, BMO Capital Markets raised its target from $28.00 to $30.00, classifying the stock as “outperform.” This revision came in a research note dated December 10, 2023. Similarly, Goldman Sachs Group increased its price objective from $29.50 to $30.00 and maintains a “neutral” rating as of February 12, 2024. In contrast, Fundamental Research set a more conservative target of $27.00 in a report released on October 31, 2023.
On December 17, 2023, Deutsche Bank Aktiengesellschaft upgraded its rating from “hold” to “buy” and increased its price target from $26.00 to $31.00.
Invesco’s Financial Overview
As of the latest trading session, Invesco shares opened at $26.46 and experienced a modest increase of 0.4%. The company currently has a market capitalization of $11.78 billion. Key financial metrics include a current ratio and quick ratio both at 1.23, a debt-to-equity ratio of 0.83, a price-to-earnings (P/E) ratio of -16.54, and a P/E growth (P/E/G) ratio of 0.47. Over the past twelve months, the stock has fluctuated between a low of $11.60 and a high of $29.61. The fifty-day moving average stands at $27.36, while the 200-day moving average is $24.51.
Invesco’s recent quarterly earnings report, released on January 27, 2024, showed a positive performance. The asset manager reported earnings per share (EPS) of $0.62, exceeding analysts’ expectations of $0.58 by $0.04. The firm generated revenue of $1.26 billion, surpassing the anticipated $1.24 billion forecast. Year-over-year, this represents a revenue increase of 6.1%. In the same quarter of the previous year, Invesco posted an EPS of $0.52. Analysts expect the company to achieve an EPS of $1.87 for the current fiscal year.
Dividend and Institutional Activity
Invesco has also announced a quarterly dividend of $0.21, scheduled for distribution on March 3, 2024. Investors who hold shares as of February 13, 2024, will be eligible for this dividend, which translates to an annualized yield of 3.2%.
Recent activity among institutional investors shows a dynamic interest in Invesco shares. For instance, Integrated Wealth Concepts LLC acquired a new position in Invesco, investing $563,000 in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings by 7.2%, bringing its total to 35,767 shares valued at $543,000. Additionally, Woodline Partners LP increased its stake by 40.2%, now holding 37,850 shares worth $574,000.
Overall, approximately 66.09% of Invesco’s stock is currently held by hedge funds and other institutional investors. This continued institutional interest underscores the ongoing confidence in Invesco’s growth potential and market strategies.
Invesco Ltd., headquartered in Atlanta, Georgia, is a global investment management firm that has been in operation since 1935. The company offers a wide 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, exchange-traded funds (ETFs), and specialized products in private markets and real estate.
