Royal Bank of Canada Reiterates Sector Perform Rating for Invesco (NYSE:IVZ)

Royal Bank of Canada restated their sector perform rating on shares of Invesco (NYSE:IVZ) in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a $19.00 target price on the asset manager’s stock.

A number of other research analysts have also commented on IVZ. Evercore ISI increased their price objective on Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Wells Fargo & Company decreased 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. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods lowered 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 report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Invesco has an average rating of “Hold” and a consensus target price of $18.71.

Invesco Trading Up 0.9 %

IVZ stock opened at $17.58 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of -19.10, a P/E/G ratio of 1.07 and a beta of 1.43. The business has a fifty day moving average price of $17.59 and a 200 day moving average price of $17.19. Invesco has a fifty-two week low of $14.16 and a fifty-two week high of $18.94.

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

Institutional Trading of Invesco

Institutional investors and hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in Invesco by 484.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after acquiring an additional 1,285 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Invesco in the third quarter worth approximately $35,000. Allworth Financial LP lifted its stake in shares of 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 during the period. Crews Bank & Trust purchased a new position in Invesco during the fourth quarter valued at approximately $44,000. Finally, Truvestments Capital LLC bought a new stake in Invesco during the 3rd quarter valued at approximately $76,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.