JPMorgan Chase & Co. Downgrades Invesco (NYSE:IVZ) to Neutral

JPMorgan Chase & Co. lowered shares of Invesco (NYSE:IVZ) from an overweight rating to a neutral rating in a research report released on Thursday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $22.00 price target on the asset manager’s stock.

Several other equities analysts have also weighed in on the stock. Citigroup set a $20.00 price objective on shares of Invesco and gave the company a hold rating in a research report on Wednesday, July 31st. Deutsche Bank set a $21.00 price objective on shares of Invesco and gave the company a hold rating in a research report on Friday, July 26th. Jefferies Financial Group lowered shares of Invesco from a buy rating to a hold rating and reduced their price objective for the company from $24.00 to $23.00 in a research report on Friday, June 7th. Barclays set a $21.00 price objective on shares of Invesco and gave the company a hold rating in a research report on Friday, July 26th. Finally, Zacks Investment Research lowered shares of Invesco from a buy rating to a hold rating in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $21.73.

NYSE:IVZ opened at $17.40 on Thursday. Invesco has a twelve month low of $15.15 and a twelve month high of $24.88. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $16.65 and a 200-day moving average of $19.42. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 7.16, a price-to-earnings-growth ratio of 0.85 and a beta of 1.53.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Thursday, July 25th. The asset manager reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Invesco had a net margin of 11.45% and a return on equity of 10.23%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts forecast that Invesco will post 2.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Wednesday, August 14th. Invesco’s payout ratio is 51.03%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group boosted its holdings in shares of Invesco by 100.0% during the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock worth $26,000 after purchasing an additional 669 shares during the period. TRUE Private Wealth Advisors acquired a new stake in shares of Invesco during the second quarter worth approximately $29,000. Parallel Advisors LLC boosted its holdings in shares of Invesco by 58.8% during the first quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock worth $28,000 after purchasing an additional 532 shares during the period. Asset Dedication LLC boosted its holdings in shares of Invesco by 142.9% during the second quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of Invesco by 333.3% during the second quarter. Captrust Financial Advisors now owns 1,837 shares of the asset manager’s stock worth $38,000 after purchasing an additional 1,413 shares during the period. Institutional investors own 67.89% of the company’s stock.

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.

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