JPMorgan Chase & Co. Has Lowered Expectations for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $19.00 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 24.22% from the company’s current price.

A number of other equities analysts have also recently issued reports on IVZ. Royal Bank of Canada began coverage on Invesco in a report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price objective for the company. Citigroup decreased their price objective on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Wells Fargo & Company decreased their price target on shares of Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Bank of America dropped their price objective on shares of Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 price objective (up previously from $18.00) on shares of Invesco in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.30.

Invesco Price Performance

Shares of Invesco stock traded down $0.20 during trading hours on Wednesday, reaching $12.88. The company’s stock had a trading volume of 1,152,123 shares, compared to its average volume of 4,246,701. The firm has a 50 day moving average price of $15.77 and a 200-day moving average price of $17.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market cap of $5.77 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.98 and a beta of 1.26. Invesco has a one year low of $11.60 and a one year high of $19.55.

Invesco (NYSE:IVZ) last posted its quarterly earnings data 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%. On average, analysts predict that Invesco will post 1.87 EPS for the current year.

Institutional Investors Weigh In On Invesco

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Invesco during the 3rd quarter worth approximately $35,000. Colonial Trust Co SC acquired a new stake in shares of Invesco in the fourth quarter valued at about $38,000. Aster Capital Management DIFC Ltd increased its stake in shares of Invesco by 180.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,531 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Invesco during the 4th quarter worth about $44,000. Finally, Versant Capital Management Inc boosted its holdings in Invesco by 264.1% in the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager’s stock worth $47,000 after buying an additional 2,234 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

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.