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.
ILLEGAL ACTIVITY WARNING: This story was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.dispatchtribunal.com/2018/01/21/invesco-ivz-rating-lowered-to-neutral-at-citigroup.html.
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.
Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.