The Goldman Sachs Group Cuts Invesco (NYSE:IVZ) Price Target to $17.00

Invesco (NYSE:IVZ) had its price objective decreased by investment analysts at The Goldman Sachs Group from $18.50 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price points to a potential upside of 19.38% from the stock’s current price.

A number of other analysts have also recently weighed in on IVZ. BMO Capital Markets raised their price target on Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 target price (up previously from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. Morgan Stanley upped their price target on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price objective on shares of Invesco from $17.00 to $19.50 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Finally, Citigroup lowered their target price on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Invesco has an average rating of “Hold” and a consensus target price of $19.30.

Invesco Stock Down 9.2 %

Shares of IVZ traded down $1.45 during midday trading on Thursday, hitting $14.24. The company had a trading volume of 3,688,511 shares, compared to its average volume of 4,722,642. Invesco has a 1 year low of $13.92 and a 1 year high of $19.55. The firm has a market capitalization of $6.37 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.98 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. The company’s 50-day simple moving average is $17.02 and its 200-day simple moving average is $17.41.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. As a group, sell-side analysts expect that Invesco will post 1.87 EPS for the current year.

Hedge Funds Weigh In On Invesco

Several institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Invesco by 9.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,669 shares of the asset manager’s stock valued at $1,241,000 after purchasing an additional 5,878 shares during the last quarter. Public Sector Pension Investment Board grew its position in Invesco by 3.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 78,451 shares of the asset manager’s stock valued at $1,378,000 after buying an additional 2,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Invesco by 131.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager’s stock valued at $15,982,000 after buying an additional 516,622 shares during the period. Captrust Financial Advisors raised its position in Invesco by 131.3% during the 3rd quarter. Captrust Financial Advisors now owns 56,214 shares of the asset manager’s stock worth $987,000 after buying an additional 31,908 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in Invesco by 83.3% during the 3rd quarter. Verition Fund Management LLC now owns 49,238 shares of the asset manager’s stock worth $865,000 after buying an additional 22,377 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.