Wells Fargo & Co reissued their market perform rating on shares of Invesco (NYSE:IVZ) in a research report report published on Thursday, The Fly reports. Wells Fargo & Co currently has a $17.00 price target on the asset manager’s stock, down from their previous price target of $23.00.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Invesco from a buy rating to a hold rating and set a $19.00 target price for the company. in a report on Monday, September 23rd. JPMorgan Chase & Co. downgraded Invesco from an overweight rating to a neutral rating and set a $22.00 target price for the company. in a report on Thursday, September 12th. Citigroup set a $20.00 target price on Invesco and gave the company a hold rating in a report on Wednesday, July 31st. Deutsche Bank set a $21.00 target price on Invesco and gave the company a hold rating in a report on Friday, July 26th. Finally, ValuEngine raised Invesco from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $20.42.
Invesco stock traded down $0.13 during midday trading on Thursday, reaching $15.71. The company’s stock had a trading volume of 3,919,978 shares, compared to its average volume of 4,820,669. Invesco has a fifty-two week low of $15.15 and a fifty-two week high of $22.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.45 and a current ratio of 1.45. The stock’s 50 day simple moving average is $16.28 and its 200 day simple moving average is $18.98. The firm has a market capitalization of $7.21 billion, a PE ratio of 6.47, a P/E/G ratio of 0.83 and a beta of 1.54.
Invesco (NYSE:IVZ) last released its earnings results on Thursday, July 25th. The asset manager reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. Invesco had a return on equity of 10.23% and a net margin of 11.45%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $0.66 earnings per share. Invesco’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts predict that Invesco will post 2.44 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Rehmann Capital Advisory Group increased its position in shares of Invesco by 100.0% in the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock valued at $26,000 after buying an additional 669 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of Invesco in the second quarter valued at $29,000. Asset Dedication LLC increased its position in shares of Invesco by 142.9% in the second quarter. Asset Dedication LLC now owns 1,700 shares of the asset manager’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Invesco by 333.3% in the second quarter. Captrust Financial Advisors now owns 1,837 shares of the asset manager’s stock valued at $38,000 after buying an additional 1,413 shares in the last quarter. Finally, Ossiam purchased a new position in shares of Invesco in the second quarter valued at $47,000. Institutional investors and hedge funds own 67.82% 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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