Citigroup Trims Invesco (NYSE:IVZ) Target Price to $22.50

Invesco (NYSE:IVZGet Rating) had its price objective decreased by investment analysts at Citigroup from $26.00 to $22.50 in a research report issued on Wednesday, April 27th, The Fly reports. Citigroup’s price target would suggest a potential upside of 12.78% from the company’s previous close.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group upped their price target on Invesco from $23.00 to $24.50 and gave the stock a “neutral” rating in a research note on Thursday, March 31st. Morgan Stanley dropped their price target on Invesco from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. StockNews.com began coverage on Invesco in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Keefe, Bruyette & Woods downgraded Invesco from an “outperform” rating to a “market perform” rating and set a $25.00 price target for the company. in a research note on Tuesday, April 12th. Finally, Bank of America dropped their price target on Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, January 26th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $25.82.

Shares of NYSE:IVZ traded up $1.15 during mid-day trading on Wednesday, reaching $19.95. 5,047,020 shares of the company traded hands, compared to its average volume of 5,064,888. The company’s 50 day moving average price is $20.97 and its 200-day moving average price is $22.77. The firm has a market cap of $9.19 billion, a PE ratio of 6.74, a PEG ratio of 1.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.35 and a quick ratio of 3.79. Invesco has a 52 week low of $18.19 and a 52 week high of $29.71.

Invesco (NYSE:IVZGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The asset manager reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.06). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.28 billion. Invesco had a net margin of 22.72% and a return on equity of 12.44%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. On average, research analysts predict that Invesco will post 2.63 earnings per share for the current fiscal year.

In other news, major shareholder Mutual Life Insu Massachusetts purchased 1,349,650 shares of the business’s stock in a transaction dated Friday, March 4th. The shares were purchased at an average price of $19.01 per share, for a total transaction of $25,656,846.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Trian Fund Management, L.P. purchased 250,062 shares of the business’s stock in a transaction dated Monday, April 4th. The shares were purchased at an average price of $23.46 per share, for a total transaction of $5,866,454.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 8,455,690 shares of company stock worth $181,071,234. Insiders own 1.94% of the company’s stock.

Several institutional investors have recently made changes to their positions in IVZ. Concord Wealth Partners increased its stake in shares of Invesco by 257.6% during the third quarter. Concord Wealth Partners now owns 1,112 shares of the asset manager’s stock valued at $27,000 after buying an additional 801 shares during the period. MCF Advisors LLC increased its stake in shares of Invesco by 69.9% during the fourth quarter. MCF Advisors LLC now owns 1,252 shares of the asset manager’s stock valued at $29,000 after buying an additional 515 shares during the period. McIlrath & Eck LLC increased its stake in shares of Invesco by 224.9% during the third quarter. McIlrath & Eck LLC now owns 1,280 shares of the asset manager’s stock valued at $31,000 after buying an additional 886 shares during the period. Capital Analysts LLC increased its stake in shares of Invesco by 103.8% during the fourth quarter. Capital Analysts LLC now owns 1,339 shares of the asset manager’s stock valued at $31,000 after buying an additional 682 shares during the period. Finally, CENTRAL TRUST Co purchased a new position in shares of Invesco during the first quarter valued at $31,000. Hedge funds and other institutional investors own 67.53% of the company’s stock.

About Invesco (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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