Invesco (NYSE:IVZ) Price Target Cut to $17.00 by Analysts at Wells Fargo & Company

Invesco (NYSE:IVZ) had its price target dropped by equities research analysts at Wells Fargo & Company from $17.50 to $17.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 0.06% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. UBS Group boosted their target price on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley lifted their price objective on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.79.

Invesco Stock Up 3.6 %

Shares of IVZ stock opened at $17.01 on Tuesday. The stock’s fifty day moving average price is $17.73 and its 200 day moving average price is $17.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. Invesco has a 1-year low of $14.16 and a 1-year high of $18.94. The company has a market cap of $7.64 billion, a price-to-earnings ratio of -18.49, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43.

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

Institutional Investors Weigh In On Invesco

A number of large investors have recently modified their holdings of the business. Pallas Capital Advisors LLC increased its holdings in shares of Invesco by 13.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 49,823 shares of the asset manager’s stock valued at $871,000 after purchasing an additional 5,889 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Invesco by 16.5% in the fourth quarter. Wedmont Private Capital now owns 18,998 shares of the asset manager’s stock valued at $311,000 after purchasing an additional 2,684 shares during the period. Czech National Bank increased its position in Invesco by 6.3% during the fourth quarter. Czech National Bank now owns 97,448 shares of the asset manager’s stock worth $1,703,000 after purchasing an additional 5,779 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Invesco by 1.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 84,115 shares of the asset manager’s stock worth $1,477,000 after purchasing an additional 1,512 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in Invesco in the 4th quarter valued at about $233,000. 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.