Invesco (NYSE:IVZ) Coverage Initiated at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Invesco (NYSE:IVZ) in a research report issued on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $28.00 price target on the asset manager’s stock. BMO Capital Markets’ price target would suggest a potential upside of 16.44% from the company’s previous close.

A number of other brokerages have also issued reports on IVZ. Bank of America upped their target price on shares of Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.50 to $25.00 in a research note on Monday, July 21st. Evercore ISI reaffirmed a “positive” rating on shares of Invesco in a report on Friday, September 5th. Morgan Stanley boosted their price target on Invesco from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, July 2nd. Finally, Barclays upped their price target on Invesco from $17.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.92.

Invesco Stock Performance

Invesco stock opened at $24.05 on Friday. Invesco has a 52 week low of $11.60 and a 52 week high of $24.21. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. The stock has a market cap of $10.72 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The stock has a 50 day moving average of $21.84 and a 200-day moving average of $17.50.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). Invesco had a return on equity of 8.60% and a net margin of 10.68%.The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Invesco will post 1.87 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephanie Butcher sold 103,192 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.21% of the company’s stock.

Institutional Trading of Invesco

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in Invesco by 99.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager’s stock worth $106,598,000 after purchasing an additional 3,507,150 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Invesco by 5,065.4% during the second quarter. First Trust Advisors LP now owns 3,380,933 shares of the asset manager’s stock worth $53,317,000 after buying an additional 3,315,480 shares during the period. Norges Bank bought a new position in Invesco in the 2nd quarter worth approximately $51,838,000. AQR Capital Management LLC increased its position in Invesco by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager’s stock valued at $165,262,000 after acquiring an additional 2,882,928 shares during the period. Finally, Nuveen LLC bought a new stake in Invesco during the 1st quarter valued at $29,138,000. 66.09% of the stock is currently owned by 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.