Jefferies Group LLC Reiterates “Buy” Rating for Invesco PLC (IVZ)

Jefferies Group LLC restated their buy rating on shares of Invesco PLC (NYSE:IVZ) in a research note released on Sunday, July 30th. They currently have a $41.00 price target on the asset manager’s stock.

Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $39.00 price target on shares of Invesco PLC in a research note on Sunday, July 30th. Zacks Investment Research raised Invesco PLC from a hold rating to a buy rating and set a $39.00 price target for the company in a research note on Tuesday, July 4th. BidaskClub raised Invesco PLC from a hold rating to a buy rating in a research note on Wednesday, June 14th. ValuEngine raised Invesco PLC from a hold rating to a buy rating in a research note on Friday, June 9th. Finally, Citigroup Inc. upgraded Invesco PLC from a neutral rating to a buy rating and lifted their price objective for the stock from $35.00 to $37.50 in a research report on Monday, June 5th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $37.29.

Shares of Invesco PLC (NYSE IVZ) opened at 32.86 on Friday. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 14.65 and a beta of 1.80. The stock’s 50 day moving average is $35.10 and its 200-day moving average is $32.87. Invesco PLC has a 12-month low of $27.46 and a 12-month high of $36.84.

Invesco PLC (NYSE:IVZ) last released its earnings results on Thursday, July 27th. The asset manager reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The company had revenue of $906.30 million during the quarter, compared to the consensus estimate of $891.19 million. During the same quarter last year, the company earned $0.56 earnings per share. Invesco PLC’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Invesco PLC will post $2.54 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Tuesday, August 15th. Invesco PLC’s payout ratio is currently 52.02%.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Invesco PLC by 2,611.3% in the first quarter. BlackRock Inc. now owns 32,067,091 shares of the asset manager’s stock worth $982,213,000 after buying an additional 30,884,375 shares during the last quarter. Kentucky Retirement Systems bought a new position in Invesco PLC during the fourth quarter valued at approximately $899,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Invesco PLC during the fourth quarter valued at approximately $401,000. Quantbot Technologies LP raised its position in Invesco PLC by 474.2% in the first quarter. Quantbot Technologies LP now owns 111,611 shares of the asset manager’s stock valued at $3,418,000 after buying an additional 92,173 shares during the period. Finally, Legal & General Group Plc raised its position in Invesco PLC by 5.4% in the first quarter. Legal & General Group Plc now owns 2,100,821 shares of the asset manager’s stock valued at $64,347,000 after buying an additional 108,212 shares during the period. Institutional investors and hedge funds own 79.20% of the company’s stock.

About Invesco PLC

Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.

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