Invesco (NYSE:IVZ) Price Target Raised to $19.00 at UBS Group

Invesco (NYSE:IVZ) had its price target upped by UBS Group from $17.50 to $19.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price target indicates a potential upside of 8.63% from the stock’s previous close.

Several other analysts have also weighed in on IVZ. The Goldman Sachs Group boosted their target price on shares of Invesco from $17.25 to $17.50 and gave the company a “neutral” rating in a research note on Thursday, October 10th. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays started coverage on shares of Invesco in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 target price on the stock. Wells Fargo & Company upped their target price on Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.38.

Invesco Stock Performance

Shares of Invesco stock opened at $17.49 on Tuesday. The firm has a market cap of $7.87 billion, a PE ratio of -23.17, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. Invesco has a 1 year low of $12.48 and a 1 year high of $18.79. The firm’s 50-day simple moving average is $17.10 and its 200-day simple moving average is $16.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80.

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. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.35 EPS. Invesco’s quarterly revenue was down 20.8% compared to the same quarter last year. Equities analysts forecast that Invesco will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Invesco

A number of hedge funds and other institutional investors have recently made changes to their positions in IVZ. Centennial Wealth Advisory LLC increased its position in shares of Invesco by 3.8% during the 2nd quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock valued at $273,000 after purchasing an additional 669 shares during the period. Wright Investors Service Inc. grew its holdings in Invesco by 2.1% during the first quarter. Wright Investors Service Inc. now owns 46,787 shares of the asset manager’s stock worth $776,000 after acquiring an additional 944 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Invesco by 1.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after acquiring an additional 946 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Invesco by 6.1% during the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 963 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Invesco by 11.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock worth $155,000 after purchasing an additional 1,010 shares during the last quarter. 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.