Invesco (NYSE:IVZ) PT Lowered to $16.75

Invesco (NYSE:IVZ) had its price objective reduced by analysts at The Goldman Sachs Group from $17.75 to $16.75 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 15.44% from the company’s previous close.

IVZ has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday. Morgan Stanley lifted their target price on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $17.00 target price (down previously from $19.00) on shares of Invesco in a report on Wednesday. Royal Bank of Canada lifted their target price on shares of Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Thursday, January 18th. Finally, StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Invesco presently has an average rating of “Hold” and a consensus price target of $16.79.

Invesco Stock Performance

Invesco stock opened at $14.51 on Wednesday. The firm’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $15.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.01 and a current ratio of 5.01. Invesco has a 1-year low of $12.48 and a 1-year high of $18.71.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. On average, equities research analysts expect that Invesco will post 1.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gables Capital Management Inc. boosted its position in Invesco by 74.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after buying an additional 700 shares in the last quarter. Orion Capital Management LLC acquired a new position in Invesco in the third quarter valued at about $25,000. Pinnacle Bancorp Inc. boosted its position in Invesco by 100.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after buying an additional 1,000 shares in the last quarter. Quarry LP acquired a new position in Invesco in the fourth quarter valued at about $37,000. Finally, Jones Financial Companies Lllp acquired a new position in Invesco in the third quarter valued at about $32,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

About Invesco

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.