Invesco (NYSE:IVZ) has been assigned a $18.00 price objective by equities researchers at Morgan Stanley in a research note issued to investors on Friday, TipRanks reports. The firm presently has a “hold” rating on the asset manager’s stock. Morgan Stanley’s price objective would indicate a potential upside of 3.81% from the stock’s current price.
Several other brokerages have also commented on IVZ. ValuEngine upgraded Invesco from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. BMO Capital Markets dropped their price target on Invesco from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday. Deutsche Bank upped their price target on Invesco from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday. Evercore ISI lowered Invesco from an “in-line” rating to an “underperform” rating in a research note on Tuesday, October 22nd. Finally, Citigroup set a $16.50 price target on Invesco and gave the stock a “hold” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.86.
NYSE IVZ traded up $0.29 during trading hours on Friday, hitting $17.34. 4,368,080 shares of the company’s stock were exchanged, compared to its average volume of 4,889,109. The business’s 50 day moving average is $16.42 and its 200-day moving average is $18.78. Invesco has a 12-month low of $15.15 and a 12-month high of $22.45. The firm has a market capitalization of $7.96 billion, a P/E ratio of 7.14, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.45 and a current ratio of 1.57.
Invesco (NYSE:IVZ) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.13. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. Invesco had a return on equity of 10.60% and a net margin of 8.86%. The firm’s revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, equities research analysts anticipate that Invesco will post 2.55 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Invesco by 67.6% in the second quarter. Bank of America Corp DE now owns 27,756,146 shares of the asset manager’s stock valued at $567,890,000 after purchasing an additional 11,199,785 shares during the last quarter. Crabel Capital Management LLC purchased a new position in Invesco in the second quarter valued at about $51,144,000. Nuveen Asset Management LLC boosted its holdings in Invesco by 16,854.7% in the second quarter. Nuveen Asset Management LLC now owns 1,975,556 shares of the asset manager’s stock valued at $40,420,000 after purchasing an additional 1,963,904 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Invesco by 52.7% in the second quarter. Wells Fargo & Company MN now owns 2,863,997 shares of the asset manager’s stock valued at $58,598,000 after purchasing an additional 987,993 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Invesco by 82.5% in the second quarter. Prudential Financial Inc. now owns 2,005,415 shares of the asset manager’s stock valued at $41,031,000 after purchasing an additional 906,771 shares during the last quarter. Institutional investors and hedge funds own 67.80% 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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