Invesco (NYSE:IVZ) Stock Rating Upgraded by Wall Street Zen

Invesco (NYSE:IVZ) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other analysts have also weighed in on IVZ. Evercore ISI raised their price objective on shares of Invesco from $24.00 to $26.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Invesco in a research report on Wednesday, October 8th. Zacks Research raised shares of Invesco to a “hold” rating in a report on Tuesday, August 12th. Wells Fargo & Company raised shares of Invesco from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $14.50 to $18.00 in a research note on Friday, July 11th. Finally, Bank of America increased their price target on shares of Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.41.

Invesco Stock Performance

Invesco stock opened at $23.37 on Friday. The firm has a market capitalization of $10.42 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.85 and a beta of 1.72. The stock has a fifty day moving average price of $22.91 and a two-hundred day moving average price of $19.22. Invesco has a 52-week low of $11.60 and a 52-week high of $24.75. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.30 and a quick ratio of 1.30.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.17. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, analysts anticipate that Invesco will post 1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the completion of the sale, the director owned 192 shares of the company’s stock, valued at $4,523.52. This represents a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephanie Butcher sold 103,192 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the transaction, the director directly owned 29,855 shares in the company, valued at approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.21% of the company’s stock.

Institutional Trading of Invesco

Several large investors have recently made changes to their positions in the company. Syon Capital LLC increased its stake in Invesco by 25.2% in the third quarter. Syon Capital LLC now owns 18,865 shares of the asset manager’s stock valued at $433,000 after acquiring an additional 3,796 shares during the last quarter. NEOS Investment Management LLC increased its stake in shares of Invesco by 42.5% in the 3rd quarter. NEOS Investment Management LLC now owns 56,779 shares of the asset manager’s stock valued at $1,303,000 after purchasing an additional 16,926 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Invesco by 8.8% during the 3rd quarter. Rothschild Investment LLC now owns 46,844 shares of the asset manager’s stock worth $1,075,000 after buying an additional 3,804 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Invesco by 24.2% during the 3rd quarter. Merit Financial Group LLC now owns 23,733 shares of the asset manager’s stock worth $544,000 after buying an additional 4,620 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Invesco by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 52,018,068 shares of the asset manager’s stock worth $1,193,294,000 after buying an additional 593,140 shares during the last quarter. Institutional investors and hedge funds own 66.09% 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.