Invesco (NYSE:IVZ) Downgraded by StockNews.com to “Sell”

Invesco (NYSE:IVZ) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other research analysts have also issued reports on the stock. TD Cowen cut their price target on shares of Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $17.00 price objective (down previously from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. The Goldman Sachs Group cut their price objective on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Morgan Stanley increased their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $17.00 price objective (down previously from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.81.

Invesco Stock Up 1.4 %

NYSE:IVZ traded up $0.22 during midday trading on Thursday, reaching $15.99. 3,864,894 shares of the stock traded hands, compared to its average volume of 4,436,954. Invesco has a 12-month low of $12.48 and a 12-month high of $18.71. The business has a 50-day moving average of $15.30 and a two-hundred day moving average of $15.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 6.89 and a current ratio of 6.89. The stock has a market capitalization of $7.19 billion, a PE ratio of -21.32, a price-to-earnings-growth ratio of 1.13 and a beta of 1.47.

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

Hedge Funds Weigh In On Invesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its position in Invesco by 1,411.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock worth $67,016,000 after purchasing an additional 3,507,900 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Invesco during the fourth quarter worth about $61,795,000. Norges Bank acquired a new stake in Invesco during the fourth quarter worth about $59,713,000. Dimensional Fund Advisors LP increased its position in Invesco by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock worth $246,163,000 after purchasing an additional 2,592,039 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Invesco during the first quarter worth about $41,475,000. 66.09% of the stock is owned by hedge funds and other 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.