Invesco (NYSE:IVZ) Receives Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Invesco (NYSE:IVZ) in a research note released on Thursday,Benzinga reports. Royal Bank of Canada currently has a $19.00 price target on the asset manager’s stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays dropped their target price on Invesco from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. UBS Group upped their target price on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Invesco presently has a consensus rating of “Hold” and a consensus price target of $18.71.

Invesco Stock Performance

IVZ stock opened at $17.58 on Thursday. 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 capitalization of $7.90 billion, a PE ratio of -19.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. The stock’s 50 day simple moving average is $17.59 and its 200 day simple moving average is $17.19. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous 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 forecast that Invesco will post 1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Invesco

A number of hedge funds have recently added to or reduced their stakes in IVZ. Mercer Global Advisors Inc. ADV increased its position in shares of Invesco by 3.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 62,098 shares of the asset manager’s stock valued at $965,000 after purchasing an additional 1,937 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Invesco by 4.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 43,898 shares of the asset manager’s stock worth $655,000 after buying an additional 1,742 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Invesco by 4.6% during the second quarter. Pacer Advisors Inc. now owns 32,205 shares of the asset manager’s stock valued at $482,000 after buying an additional 1,409 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Invesco by 7.0% during the second quarter. Thrivent Financial for Lutherans now owns 563,301 shares of the asset manager’s stock worth $8,427,000 after buying an additional 37,045 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Invesco by 4.1% in the 2nd quarter. ProShare Advisors LLC now owns 128,781 shares of the asset manager’s stock valued at $1,927,000 after buying an additional 5,057 shares during the period. 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.