The Goldman Sachs Group Issues Positive Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its target price boosted by research analysts at The Goldman Sachs Group from $19.00 to $20.75 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 7.76% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. UBS Group increased their price target on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI lifted their price target on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Barclays lifted their price objective on shares of Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday. Royal Bank of Canada started coverage on Invesco in a research note on Tuesday. They set a “sector perform” rating and a $19.00 target price for the company. Finally, StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.71.

Invesco Stock Performance

Shares of NYSE IVZ opened at $19.26 on Wednesday. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $8.65 billion, a P/E ratio of -20.93, a P/E/G ratio of 1.06 and a beta of 1.43. Invesco has a 12 month low of $14.16 and a 12 month high of $19.55. The stock has a 50 day moving average of $17.70 and a 200-day moving average of $17.30.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. As a group, equities research analysts predict that Invesco will post 1.7 EPS for the current year.

Institutional Investors Weigh In On Invesco

Several institutional investors and hedge funds have recently bought and sold shares of IVZ. Avior Wealth Management LLC raised its holdings in shares of Invesco by 484.9% during the third quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 1,285 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Invesco during the 3rd quarter valued at $35,000. Allworth Financial LP raised its holdings in Invesco by 304.0% in the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,806 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Invesco in the 4th quarter worth about $44,000. Finally, Truvestments Capital LLC bought a new stake in shares of Invesco during the 3rd quarter valued at about $76,000. Hedge funds and other institutional investors 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.