Invesco (NYSE:IVZ) Price Target Lowered to $19.00 at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price target dropped by stock analysts at The Goldman Sachs Group from $19.25 to $19.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 8.45% from the stock’s current price.

Several other equities analysts also recently commented on IVZ. Royal Bank of Canada increased 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a report on Monday, November 11th. UBS Group raised their price target on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com raised 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 issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.83.

Invesco Stock Up 0.7 %

Shares of NYSE:IVZ opened at $17.52 on Tuesday. The firm has a 50 day simple moving average of $17.81 and a 200 day simple moving average of $17.04. The company has a market cap of $7.87 billion, a PE ratio of -19.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. 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 has a 52 week low of $14.16 and a 52 week high of $18.94.

Invesco (NYSE:IVZ) last issued its quarterly earnings data 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. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company posted $0.35 earnings per share. Invesco’s revenue for the quarter was down 20.8% on a year-over-year basis. As a group, research analysts expect that Invesco will post 1.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its position in Invesco by 73.3% in the second quarter. Commonwealth Equity Services LLC now owns 231,130 shares of the asset manager’s stock worth $3,458,000 after purchasing an additional 97,723 shares during the period. TD Asset Management Inc lifted its stake in shares of Invesco by 5.9% in the 2nd quarter. TD Asset Management Inc now owns 84,792 shares of the asset manager’s stock valued at $1,268,000 after purchasing an additional 4,700 shares during the period. National Bank of Canada FI boosted its position in shares of Invesco by 3.9% in the 2nd quarter. National Bank of Canada FI now owns 197,463 shares of the asset manager’s stock worth $2,932,000 after purchasing an additional 7,418 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Invesco by 2.9% in the 2nd 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. Finally, Arizona State Retirement System grew its stake in shares of Invesco by 1.9% during the second quarter. Arizona State Retirement System now owns 94,398 shares of the asset manager’s stock worth $1,412,000 after purchasing an additional 1,737 shares during the period. Institutional investors own 66.09% of the company’s stock.

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.