Invesco (NYSE:IVZ) PT Lowered to $26.00 at Citigroup

Invesco (NYSE:IVZ – Get Rating) had its target price lowered by Citigroup from $32.00 to $26.00 in a report released on Tuesday, April 12th, The Fly reports. The firm currently has a “buy” rating on the asset manager’s stock. Citigroup’s price objective points to a potential upside of 30.33% from the company’s previous close.

Several other brokerages have also weighed in on IVZ. Royal Bank of Canada cut their price objective on Invesco from $26.00 to $23.00 in a report on Tuesday, January 25th. BMO Capital Markets cut their target price on shares of Invesco from $33.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 26th. Morgan Stanley dropped their price target on shares of Invesco from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, April 8th. The Goldman Sachs Group increased their target price on shares of Invesco from $23.00 to $24.50 and gave the stock a “neutral” rating in a research report on Thursday, March 31st. Finally, Evercore ISI decreased their price target on shares of Invesco from $28.00 to $25.00 and set an “inline” rating for the company in a report on Wednesday, January 26th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.82.

Shares of IVZ stock traded up $0.72 on Tuesday, hitting $19.95. The stock had a trading volume of 4,994,348 shares, compared to its average volume of 5,065,507. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 1.17 and a beta of 1.25. The stock’s 50 day moving average is $20.97 and its 200-day moving average is $22.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.79 and a current ratio of 1.35. Invesco has a 52-week low of $18.19 and a 52-week high of $29.71.

Invesco (NYSE:IVZ – Get Rating) last issued its earnings results on Tuesday, April 26th. The asset manager reported $0.56 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.06). Invesco had a return on equity of 12.44% and a net margin of 22.72%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $0.68 EPS. Invesco’s revenue was down 1.9% compared to the same quarter last year. Equities analysts expect that Invesco will post 2.63 earnings per share for the current year.

In other news, major shareholder Mutual Life Insu Massachusetts purchased 1,378,433 shares of the stock in a transaction on Monday, March 7th. The stock was purchased at an average price of $18.65 per share, for a total transaction of $25,707,775.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Trian Fund Management, L.P. acquired 1,026,508 shares of the business’s stock in a transaction dated Wednesday, March 23rd. The shares were bought at an average cost of $21.52 per share, for a total transaction of $22,090,452.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 8,455,690 shares of company stock worth $181,071,234. 1.94% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Cinctive Capital Management LP purchased a new stake in shares of Invesco during the 3rd quarter worth approximately $5,531,000. New York State Common Retirement Fund increased its stake in shares of Invesco by 2.8% during the 4th quarter. New York State Common Retirement Fund now owns 1,182,402 shares of the asset manager’s stock worth $27,219,000 after purchasing an additional 31,944 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Invesco by 25.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 85,698 shares of the asset manager’s stock worth $1,973,000 after purchasing an additional 17,499 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Invesco by 1.7% during the 4th quarter. CIBC Asset Management Inc now owns 38,050 shares of the asset manager’s stock worth $876,000 after purchasing an additional 647 shares during the last quarter. Finally, Proffitt & Goodson Inc. purchased a new stake in shares of Invesco during the 3rd quarter worth approximately $528,000. 67.53% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Company Profile (Get Rating)

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.

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