Invesco (NYSE:IVZ) Stock Rating Upgraded by StockNews.com

Invesco (NYSE:IVZ – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other equities analysts have also commented on IVZ. Bank of America reduced their price target on Invesco from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 26th. The Goldman Sachs Group boosted their price target on Invesco from $23.00 to $24.50 and gave the stock a “neutral” rating in a research report on Thursday, March 31st. Royal Bank of Canada reduced their price target on Invesco from $26.00 to $23.00 in a research report on Tuesday, January 25th. Citigroup dropped their price objective on Invesco from $26.00 to $22.50 in a report on Wednesday, April 27th. Finally, Keefe, Bruyette & Woods downgraded Invesco from an “outperform” rating to a “market perform” rating and set a $25.00 price objective on the stock. in a report on Tuesday, April 12th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and an average target price of $25.82.

NYSE IVZ opened at $17.69 on Tuesday. The business’s 50-day simple moving average is $20.60 and its 200-day simple moving average is $22.31. The firm has a market capitalization of $8.05 billion, a P/E ratio of 6.21, a P/E/G ratio of 1.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.21 and a quick ratio of 4.21. Invesco has a 1-year low of $16.76 and a 1-year high of $29.71.

Invesco (NYSE:IVZ – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The asset manager reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.28 billion. Invesco had a return on equity of 13.70% and a net margin of 22.72%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. On average, equities research analysts expect that Invesco will post 2.63 EPS for the current fiscal year.

In other news, major shareholder Trian Fund Management, L.P. purchased 1,500,000 shares of the stock in a transaction dated Wednesday, March 30th. The stock was acquired at an average cost of $23.36 per share, for a total transaction of $35,040,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory Mcgreevey sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $19.60, for a total value of $3,920,000.00. The disclosure for this sale can be found here. Insiders bought a total of 8,459,690 shares of company stock valued at $181,140,834 over the last quarter. Company insiders own 1.94% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in Invesco during the 1st quarter worth $396,000. Mackenzie Financial Corp boosted its position in Invesco by 10.9% during the 3rd quarter. Mackenzie Financial Corp now owns 9,026 shares of the asset manager’s stock worth $218,000 after acquiring an additional 889 shares during the period. CIBC Asset Management Inc boosted its position in Invesco by 4.7% during the 3rd quarter. CIBC Asset Management Inc now owns 37,403 shares of the asset manager’s stock worth $902,000 after acquiring an additional 1,682 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Invesco by 248.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 24,090 shares of the asset manager’s stock worth $581,000 after acquiring an additional 17,175 shares during the period. Finally, Creative Planning acquired a new position in Invesco during the 3rd quarter worth $237,000. Hedge funds and other institutional investors own 67.53% of the company’s stock.

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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