Invesco (IVZ) Rating Lowered to Neutral at Citigroup

Invesco (NYSE:IVZ) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Friday.

Several other analysts also recently commented on IVZ. Goldman Sachs Group downgraded shares of Invesco from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $36.00 in a research report on Thursday, September 28th. UBS Group boosted their target price on shares of Invesco from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, October 2nd. ValuEngine raised shares of Invesco from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $39.00 target price on shares of Invesco in a research report on Tuesday, October 3rd. Finally, Wells Fargo & Co boosted their price objective on shares of Invesco from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Invesco has an average rating of “Hold” and a consensus target price of $39.79.

Shares of Invesco (NYSE:IVZ) opened at $38.13 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $15,411.97, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 1.03 and a beta of 1.81. Invesco has a 1 year low of $28.75 and a 1 year high of $38.42.

Invesco (NYSE:IVZ) last posted its earnings results on Thursday, October 26th. The asset manager reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The company had revenue of $976.60 million during the quarter, compared to the consensus estimate of $940.96 million. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. sell-side analysts predict that Invesco will post 2.67 EPS for the current fiscal year.

In other news, insider Colin Meadows sold 54,215 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total value of $1,952,282.15. Following the completion of the sale, the insider now directly owns 164,420 shares in the company, valued at $5,920,764.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in IVZ. Amundi Pioneer Asset Management Inc. raised its stake in Invesco by 144.5% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 5,097,202 shares of the asset manager’s stock valued at $178,605,000 after purchasing an additional 3,012,871 shares during the last quarter. Janus Henderson Group PLC raised its stake in Invesco by 5,060.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,787,996 shares of the asset manager’s stock valued at $98,110,000 after purchasing an additional 2,733,970 shares during the last quarter. FMR LLC raised its stake in Invesco by 137.5% during the 2nd quarter. FMR LLC now owns 2,959,243 shares of the asset manager’s stock valued at $104,135,000 after purchasing an additional 1,713,338 shares during the last quarter. Capital International Investors raised its stake in Invesco by 9.2% during the 3rd quarter. Capital International Investors now owns 13,917,400 shares of the asset manager’s stock valued at $487,666,000 after purchasing an additional 1,169,200 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Invesco by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after purchasing an additional 1,092,898 shares during the last quarter. Hedge funds and other institutional investors own 81.31% of the company’s stock.

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Invesco Company Profile

Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.

Analyst Recommendations for Invesco (NYSE:IVZ)

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