Royal Bank of Canada restated their buy rating on shares of Invesco (NYSE:IVZ) in a report released on Friday morning, The Fly reports. The firm currently has a $30.00 target price on the asset manager’s stock.
A number of other analysts have also weighed in on the company. Zacks Investment Research upgraded Invesco from a sell rating to a hold rating in a research note on Tuesday. Deutsche Bank lowered their target price on Invesco from $30.00 to $27.00 and set a buy rating for the company in a research note on Thursday, October 11th. Morgan Stanley lowered their target price on Invesco from $29.00 to $28.00 and set an equal weight rating for the company in a research note on Tuesday, October 9th. UBS Group lowered their target price on Invesco from $26.00 to $24.00 and set a neutral rating for the company in a research note on Monday, October 8th. Finally, JPMorgan Chase & Co. set a $29.00 target price on Invesco and gave the company a buy rating in a research note on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Invesco has a consensus rating of Hold and an average price target of $32.62.
Shares of NYSE:IVZ traded up $0.72 during midday trading on Friday, reaching $21.98. The company’s stock had a trading volume of 9,923,588 shares, compared to its average volume of 6,749,712. Invesco has a fifty-two week low of $19.66 and a fifty-two week high of $38.43. The firm has a market cap of $8.73 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.88 and a beta of 1.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.51 and a current ratio of 1.51.
Invesco (NYSE:IVZ) last announced its earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. Invesco had a return on equity of 12.32% and a net margin of 21.66%. The company had revenue of $966.90 million during the quarter, compared to analyst estimates of $972.49 million. During the same period last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts anticipate that Invesco will post 2.68 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of IVZ. Russell Investments Group Ltd. boosted its holdings in Invesco by 3.0% in the first quarter. Russell Investments Group Ltd. now owns 176,678 shares of the asset manager’s stock valued at $5,626,000 after acquiring an additional 5,204 shares during the last quarter. Baird Financial Group Inc. bought a new position in Invesco in the first quarter valued at about $366,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Invesco by 34.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,687 shares of the asset manager’s stock valued at $628,000 after acquiring an additional 5,027 shares during the last quarter. LPL Financial LLC boosted its holdings in Invesco by 40.6% in the first quarter. LPL Financial LLC now owns 69,064 shares of the asset manager’s stock valued at $2,211,000 after acquiring an additional 19,931 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Invesco by 266.8% in the first quarter. Millennium Management LLC now owns 572,865 shares of the asset manager’s stock valued at $18,337,000 after acquiring an additional 416,666 shares during the last quarter. Institutional investors and hedge funds own 78.83% 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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