Invesco (NYSE:IVZ) PT Raised to $16.50

Invesco (NYSE:IVZ) had its target price lifted by investment analysts at Wells Fargo & Company from $16.00 to $16.50 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 6.70% from the company’s current price.

Several other brokerages have also commented on IVZ. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research report on Monday. Evercore ISI upped their price objective on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a report on Tuesday, August 20th. The Goldman Sachs Group cut their target price on Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Barclays began coverage on Invesco in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.33.

Invesco Price Performance

Shares of NYSE:IVZ opened at $17.69 on Wednesday. The company has a market cap of $7.96 billion, a P/E ratio of -23.58, a P/E/G ratio of 1.18 and a beta of 1.44. The business has a fifty day simple moving average of $16.73 and a 200-day simple moving average of $16.00. Invesco has a 52 week low of $12.48 and a 52 week high of $18.28. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.31 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts forecast that Invesco will post 1.65 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in Invesco by 10.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock worth $7,718,000 after buying an additional 44,417 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Invesco in the first quarter valued at about $2,066,000. Price T Rowe Associates Inc. MD grew its stake in Invesco by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock valued at $24,843,000 after purchasing an additional 58,332 shares in the last quarter. Bessemer Group Inc. increased its holdings in Invesco by 5,321.9% during the 1st quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock worth $1,416,000 after purchasing an additional 83,767 shares during the last quarter. Finally, Greenwood Capital Associates LLC acquired a new position in shares of Invesco in the 1st quarter valued at approximately $1,061,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Company Profile

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.