Invesco (NYSE:IVZ) Upgraded at UBS Group

Invesco (NYSE:IVZ) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

Several other analysts also recently weighed in on the company. Evercore set a $35.00 target price on Invesco in a research note on Monday, August 10th. Keefe, Bruyette & Woods initiated coverage on Invesco in a report on Wednesday, September 9th. They set an “outperform” rating and a $39.00 price target for the company. Jefferies Financial Group raised Invesco to a “hold” rating in a research report on Tuesday, June 30th. Morgan Stanley raised their price objective on shares of Invesco from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, September 25th. Finally, Royal Bank Of Canada lowered shares of Invesco from an “outperform” rating to a “hold” rating and set a $39.00 target price on the stock. in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Invesco currently has an average rating of “Hold” and an average target price of $33.27.

Invesco Stock Down 1.4%

Invesco stock opened at $30.07 on Tuesday. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of -44.23, a P/E/G ratio of 0.45 and a beta of 1.65. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31. Invesco has a fifty-two week low of $20.67 and a fifty-two week high of $33.66. The firm has a fifty day moving average price of $31.56 and a two-hundred day moving average price of $28.52.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%.The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. As a group, analysts forecast that Invesco will post 2.83 earnings per share for the current year.

Insider Transactions at Invesco

In related news, CFO Laura Dukes sold 31,075 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $33.16, for a total value of $1,030,447.00. Following the completion of the transaction, the chief financial officer directly owned 259,183 shares of the company’s stock, valued at $8,594,508.28. This trade represents a 10.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephanie Butcher sold 45,095 shares of Invesco stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $32.28, for a total transaction of $1,455,666.60. Following the sale, the director owned 10,205 shares in the company, valued at $329,417.40. This represents a 81.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 222,540 shares of company stock valued at $7,227,167. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Invesco

A number of hedge funds and other institutional investors have recently made changes to their positions in IVZ. Dimensional Fund Advisors LP increased its stake in Invesco by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock valued at $518,836,000 after acquiring an additional 596,434 shares during the period. Bank of New York Mellon Corp boosted its holdings in Invesco by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager’s stock valued at $83,356,000 after purchasing an additional 182,060 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Invesco by 0.9% during the fourth quarter. Macquarie Group Ltd. now owns 2,979,258 shares of the asset manager’s stock valued at $78,265,000 after purchasing an additional 27,065 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Invesco by 28.9% in the 1st quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock valued at $64,473,000 after purchasing an additional 595,797 shares during the period. Finally, Quantinno Capital Management LP grew its stake in shares of Invesco by 24.1% in the 1st quarter. Quantinno Capital Management LP now owns 1,574,728 shares of the asset manager’s stock valued at $38,250,000 after purchasing an additional 306,213 shares during the period. 66.09% of the stock is owned by institutional investors.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across public and private markets and serves clients through a range of investment strategies.

Its offerings include exchange-traded funds, mutual funds, separately managed accounts, institutional mandates and alternative investments. Invesco provides exposure to equities, fixed income, commodities, multi-asset strategies and other asset classes, with both actively managed and index-based investment solutions.

Headquartered in Atlanta, Georgia, Invesco serves clients across North America, Europe, Asia-Pacific and other international markets through offices and investment teams around the world.