Invesco (NYSE:IVZ) PT Lowered to $17.00

Invesco (NYSE:IVZ) had its price objective lowered by equities researchers at The Goldman Sachs Group from $17.50 to $17.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 12.92% from the stock’s current price.

A number of other research analysts have also recently commented on IVZ. JPMorgan Chase & Co. reduced their price target on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. BMO Capital Markets reissued a “market perform” rating and set a $17.00 price objective (down previously from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. TD Cowen dropped their price objective on Invesco from $21.00 to $19.50 and set a “buy” rating for the company in a research note on Wednesday, April 24th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $17.00 price objective (down previously from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.81.

Invesco Trading Up 0.4 %

Shares of Invesco stock opened at $15.06 on Tuesday. Invesco has a 12-month low of $12.48 and a 12-month high of $18.71. The company has a market cap of $6.77 billion, a price-to-earnings ratio of -20.07, a PEG ratio of 1.13 and a beta of 1.47. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $15.19 and its 200-day moving average price is $15.89.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a positive return on equity of 7.84% and a negative net margin of 1.74%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. On average, equities analysts expect that Invesco will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Invesco

Large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new position in shares of Invesco during the 1st quarter valued at about $2,066,000. Norges Bank purchased a new position in shares of Invesco during the 4th quarter valued at about $59,713,000. PNC Financial Services Group Inc. lifted its position in shares of Invesco by 10.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 75,860 shares of the asset manager’s stock valued at $1,353,000 after buying an additional 6,994 shares in the last quarter. ARGA Investment Management LP lifted its position in shares of Invesco by 115.7% during the 4th quarter. ARGA Investment Management LP now owns 107,164 shares of the asset manager’s stock valued at $1,912,000 after buying an additional 57,476 shares in the last quarter. Finally, Swiss National Bank purchased a new position in shares of Invesco during the 4th quarter valued at about $11,830,000. 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.