Wells Fargo & Company Boosts Invesco (NYSE:IVZ) Price Target to $19.50

Invesco (NYSE:IVZ - Get Free Report) had its price target lifted by analysts at Wells Fargo & Company from $17.00 to $19.50 in a note issued to investors on Wednesday,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 1.27% from the company's current price.

A number of other equities research analysts have also recently issued reports on the company. Morgan Stanley lowered their price objective on Invesco from $19.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Royal Bank of Canada initiated coverage on Invesco in a research note on Tuesday. They issued a "sector perform" rating and a $19.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Invesco from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Argus upped their price target on Invesco from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, StockNews.com upgraded Invesco from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.71.

Invesco Stock Performance

Shares of NYSE:IVZ traded up $0.26 during midday trading on Wednesday, reaching $19.26. The company had a trading volume of 7,075,615 shares, compared to its average volume of 4,419,816. The company's 50 day moving average price is $17.67 and its 200 day moving average price is $17.28. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.65 billion, a P/E ratio of -20.93, a P/E/G ratio of 1.06 and a beta of 1.43. Invesco has a 52-week low of $14.16 and a 52-week high of $19.55.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. As a group, sell-side analysts anticipate that Invesco will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco

Institutional investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its holdings in shares of Invesco by 12.3% during the second quarter. Public Sector Pension Investment Board now owns 75,751 shares of the asset manager's stock valued at $1,133,000 after acquiring an additional 8,317 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Invesco by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 319,240 shares of the asset manager's stock valued at $4,776,000 after acquiring an additional 2,451 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Invesco by 19.3% during the second quarter. Mackenzie Financial Corp now owns 57,647 shares of the asset manager's stock valued at $862,000 after acquiring an additional 9,336 shares in the last quarter. Algert Global LLC bought a new position in shares of Invesco during the second quarter valued at $551,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco by 1.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager's stock valued at $1,001,000 after acquiring an additional 946 shares in the last quarter. Institutional investors own 66.09% 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.