Keefe, Bruyette & Woods Lowers Invesco (NYSE:IVZ) Price Target to $18.00

Invesco (NYSE:IVZ) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $19.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 8.56% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. UBS Group raised their price objective on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Barclays increased their target price on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on shares of Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.71.

Invesco Trading Down 1.2 %

Shares of IVZ opened at $16.58 on Friday. Invesco has a 1-year low of $14.16 and a 1-year high of $18.94. 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 firm has a 50 day simple moving average of $17.88 and a 200-day simple moving average of $16.80. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of -18.02, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share 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 positive return on equity of 8.83% and a negative net margin of 3.00%. The business’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. Equities analysts forecast that Invesco will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Invesco

A number of hedge funds have recently bought and sold shares of IVZ. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Invesco by 27.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,982 shares of the asset manager’s stock worth $194,000 after buying an additional 2,815 shares in the last quarter. Raymond James & Associates boosted its holdings in Invesco by 34.8% in the second quarter. Raymond James & Associates now owns 89,610 shares of the asset manager’s stock worth $1,341,000 after purchasing an additional 23,120 shares during the period. Fifth Third Bancorp grew its position in shares of Invesco by 6.1% during the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock valued at $249,000 after buying an additional 963 shares during the last quarter. Family Firm Inc. bought a new position in shares of Invesco during the second quarter valued at approximately $28,000. Finally, Bank of New York Mellon Corp increased its position in Invesco by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager’s stock worth $37,241,000 after buying an additional 30,016 shares during the period. Institutional investors and hedge funds 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.