Royal Bank of Canada Increases Invesco (NYSE:IVZ) Price Target to $19.00

Invesco (NYSE:IVZ - Get Free Report) had its price target lifted by investment analysts at Royal Bank of Canada from $18.00 to $19.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "sector perform" rating on the asset manager's stock. Royal Bank of Canada's target price indicates a potential upside of 9.26% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. StockNews.com raised Invesco from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Evercore ISI increased their price objective on Invesco from $18.00 to $19.00 and gave the stock an "in-line" rating in a research note on Wednesday. Barclays increased their price objective on Invesco from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Wednesday. UBS Group raised their target price on Invesco from $17.50 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their target price on Invesco from $16.50 to $17.50 and gave the company an "underweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Invesco has an average rating of "Hold" and an average target price of $18.38.

Invesco Stock Performance

Invesco stock traded down $0.65 during trading hours on Wednesday, reaching $17.39. 3,229,044 shares of the company were exchanged, compared to its average volume of 4,253,263. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of -23.17, a PEG 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. The stock has a 50-day moving average of $17.10 and a 200 day moving average of $16.09. Invesco has a 12 month low of $12.48 and a 12 month high of $18.79.

Invesco (NYSE:IVZ - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company's revenue was down 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, research analysts anticipate that Invesco will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in shares of Invesco during the 3rd quarter worth approximately $331,000. Lecap Asset Management Ltd. acquired a new position in shares of Invesco during the 3rd quarter worth approximately $725,000. Venture Visionary Partners LLC increased its position in shares of Invesco by 4.3% during the 3rd quarter. Venture Visionary Partners LLC now owns 95,423 shares of the asset manager's stock worth $1,676,000 after purchasing an additional 3,949 shares during the last quarter. Blue Trust Inc. increased its position in shares of Invesco by 714.3% during the 3rd quarter. Blue Trust Inc. now owns 6,783 shares of the asset manager's stock worth $119,000 after purchasing an additional 5,950 shares during the last quarter. Finally, Claro Advisors LLC acquired a new position in shares of Invesco during the 3rd quarter worth approximately $253,000. Institutional investors and hedge funds 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.

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