Invesco (NYSE:IVZ – Get Free Report) had its target price increased by equities researchers at Wells Fargo & Company from $17.00 to $19.50 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 1.27% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. UBS Group boosted their price target on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Argus increased their target price on shares of Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their price target on Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Evercore ISI raised their price objective on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.71.
Check Out Our Latest Report on Invesco
Invesco Trading Up 1.3 %
Invesco (NYSE:IVZ – Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. As a group, analysts anticipate that Invesco will post 1.7 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board boosted its stake in shares of Invesco by 12.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 75,751 shares of the asset manager’s stock valued at $1,133,000 after buying an additional 8,317 shares during the period. The Manufacturers Life Insurance Company boosted its position in Invesco by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 319,240 shares of the asset manager’s stock valued at $4,776,000 after purchasing an additional 2,451 shares during the last quarter. Mackenzie Financial Corp grew its stake in Invesco by 19.3% in the second quarter. Mackenzie Financial Corp now owns 57,647 shares of the asset manager’s stock valued at $862,000 after purchasing an additional 9,336 shares in the last quarter. Algert Global LLC acquired a new position in Invesco in the 2nd quarter worth about $551,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Invesco by 1.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock worth $1,001,000 after purchasing an additional 946 shares in the last quarter. Institutional investors and hedge funds 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.
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