JPMorgan Chase & Co. Raises Invesco (NYSE:IVZ) Price Target to $20.00

Invesco (NYSE:IVZ - Get Free Report) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $17.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 11.05% from the company's current price.

Several other research firms have also weighed in on IVZ. Morgan Stanley raised their target price on Invesco from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Friday. Barclays began coverage on shares of Invesco in a report on Tuesday, August 27th. They set an "equal weight" rating and a $18.00 price objective for the company. Evercore ISI lifted their target price on shares of Invesco from $17.00 to $18.00 and gave the stock an "in-line" rating in a report on Tuesday, August 20th. StockNews.com upgraded shares of Invesco from a "sell" rating to a "hold" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Invesco from $16.00 to $17.00 and gave the stock a "hold" rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $17.71.

Invesco Price Performance

IVZ stock traded down $0.62 during trading on Monday, hitting $18.01. The company had a trading volume of 6,701,274 shares, compared to its average volume of 4,244,381. The business has a 50 day moving average of $17.03 and a 200 day moving average of $16.07. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of -23.93, a P/E/G ratio of 1.10 and a beta of 1.44. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.79.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted $0.31 EPS. The firm's quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts predict that Invesco will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Invesco by 22.7% during the 2nd 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 in the last quarter. Swedbank AB acquired a new stake in shares of Invesco in the 1st quarter valued at approximately $41,475,000. Ossiam grew its holdings in shares of Invesco by 2,712.9% during the 1st quarter. Ossiam now owns 680,157 shares of the asset manager's stock valued at $11,284,000 after purchasing an additional 655,977 shares during the last quarter. Marshall Wace LLP increased its position in Invesco by 115.7% during the 2nd quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager's stock worth $18,269,000 after purchasing an additional 654,960 shares in the last quarter. Finally, M&G Plc bought a new position in Invesco in the 1st quarter valued at approximately $8,438,000. 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.