Invesco (NYSE:IVZ - Get Free Report) had its price target decreased by equities research analysts at Wells Fargo & Company from $17.50 to $17.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the asset manager's stock. Wells Fargo & Company's price objective would suggest a potential upside of 2.53% from the company's previous close.
IVZ has been the topic of a number of other research reports. Morgan Stanley boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their target price on shares of Invesco from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Monday, October 21st. Evercore ISI boosted their target price on Invesco from $19.00 to $20.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price target on Invesco from $18.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, October 23rd. Finally, Barclays lifted their price target on Invesco from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.79.
Read Our Latest Stock Report on IVZ
Invesco Trading Up 1.0 %
Shares of NYSE IVZ traded up $0.16 during midday trading on Tuesday, hitting $16.58. 3,712,688 shares of the company traded hands, compared to its average volume of 2,968,611. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94. The firm has a market cap of $7.45 billion, a P/E ratio of -18.02, a P/E/G ratio of 1.05 and a beta of 1.43. The stock has a 50-day moving average price of $17.73 and a 200 day moving average price of $17.10. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91.
Invesco (NYSE:IVZ - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business's revenue for the quarter was down 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, analysts expect that Invesco will post 1.7 earnings per share for the current year.
Institutional Investors Weigh In On Invesco
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in Invesco by 2.9% in the second quarter. Victory Capital Management Inc. now owns 135,335 shares of the asset manager's stock worth $2,025,000 after purchasing an additional 3,873 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Invesco by 22.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 18,087 shares of the asset manager's stock worth $271,000 after purchasing an additional 3,293 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Invesco by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager's stock worth $270,540,000 after buying an additional 3,349,069 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Invesco by 3.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 62,098 shares of the asset manager's stock valued at $965,000 after buying an additional 1,937 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Invesco by 4.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 43,898 shares of the asset manager's stock valued at $655,000 after buying an additional 1,742 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company's stock.
About Invesco
(
Get Free Report)
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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