Invesco (NYSE:IVZ) Price Target Raised to $19.50 at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price objective lifted by The Goldman Sachs Group from $17.50 to $19.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 11.36% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Evercore ISI boosted their price target on shares of Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Invesco currently has a consensus rating of “Hold” and an average price target of $18.29.

Invesco Stock Performance

NYSE IVZ traded down $0.53 on Wednesday, reaching $17.51. 1,402,112 shares of the stock were exchanged, compared to its average volume of 4,244,351. Invesco has a one year low of $12.48 and a one year high of $18.79. The firm has a market capitalization of $7.88 billion, a PE ratio of -23.35, a PEG ratio of 1.10 and a beta of 1.44. The company’s 50-day simple moving average is $17.10 and its two-hundred day simple moving average is $16.09. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The firm’s revenue was down 20.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 EPS. Analysts expect that Invesco will post 1.66 EPS for the current fiscal year.

Institutional Trading of Invesco

A number of large investors have recently made changes to their positions in IVZ. Family Firm Inc. purchased a new stake in shares of Invesco during the second quarter valued at $28,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the second quarter valued at $30,000. Fidelis Capital Partners LLC purchased a new stake in shares of Invesco during the first quarter valued at $52,000. Abich Financial Wealth Management LLC boosted its stake in shares of Invesco by 50.0% during the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 1,210 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Invesco during the second quarter valued at $61,000. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Company Profile

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.