Invesco (NYSE:IVZ) Shares Gap Down Following Weak Earnings

Invesco Ltd. (NYSE:IVZ) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $15.58, but opened at $14.64. Invesco shares last traded at $14.89, with a volume of 1,783,750 shares changing hands.

The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. Invesco’s revenue was up 4.0% on a year-over-year basis.

Invesco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.65%. This is an increase from Invesco’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, May 13th. Invesco’s dividend payout ratio (DPR) is presently -108.11%.

Analysts Set New Price Targets

IVZ has been the subject of a number of research reports. UBS Group reduced their price target on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, January 29th. Wells Fargo & Company dropped their price objective on shares of Invesco from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. The Goldman Sachs Group dropped their price objective on shares of Invesco from $17.75 to $16.75 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $16.79.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Gables Capital Management Inc. raised its holdings in Invesco by 74.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 700 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Invesco during the 3rd quarter valued at $25,000. Pinnacle Bancorp Inc. grew its stake in shares of Invesco by 100.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after buying an additional 1,000 shares during the period. Quarry LP purchased a new stake in shares of Invesco during the 4th quarter valued at $37,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Invesco during the 3rd quarter valued at $32,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Price Performance

The company’s 50 day moving average price is $15.73 and its 200-day moving average price is $15.44. The company has a market capitalization of $6.52 billion, a PE ratio of -19.62, a PEG ratio of 1.03 and a beta of 1.44. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.77.

Invesco Company Profile

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.