Invesco’s (IVZ) Sector Perform Rating Reiterated at Royal Bank of Canada

Invesco (NYSE:IVZ)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report released on Thursday,Benzinga reports. They currently have a $19.00 price target on the asset manager’s stock. Royal Bank of Canada’s target price points to a potential upside of 8.79% from the company’s current price.

IVZ has been the subject of a number of other reports. Keefe, Bruyette & Woods reduced their price target on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company lowered their price target on Invesco from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley upped their price objective on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. boosted their price target on Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, UBS Group raised their price objective on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.71.

Invesco Stock Up 0.3 %

Invesco stock traded up $0.05 during trading hours on Thursday, hitting $17.47. 345,083 shares of the stock traded hands, compared to its average volume of 3,117,404. Invesco has a one year low of $14.16 and a one year high of $18.94. The company has a market cap of $7.85 billion, a PE ratio of -18.98, a PEG ratio of 1.07 and a beta of 1.43. The firm’s 50-day moving average price is $17.59 and its two-hundred day moving average price is $17.19. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm posted $0.35 EPS. The firm’s quarterly revenue was down 20.8% on a year-over-year basis. On average, research analysts forecast that Invesco will post 1.7 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC lifted its position in shares of Invesco by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after acquiring an additional 87,405 shares in the last quarter. Marshall Wace LLP lifted its stake in Invesco by 115.7% in the 2nd quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock worth $18,269,000 after purchasing an additional 654,960 shares in the last quarter. Massachusetts Mutual Life Insurance Co. purchased a new position in Invesco during the third quarter worth approximately $1,428,196,000. Algert Global LLC purchased a new position in shares of Invesco during the 2nd quarter worth $551,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Invesco by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock valued at $1,378,000 after purchasing an additional 1,020 shares during the period. Hedge funds and other institutional investors 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.