Invesco (NYSE:IVZ) Stock Rating Upgraded by UBS Group

Invesco (NYSE:IVZ) was upgraded by UBS Group to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

IVZ has been the subject of a number of other reports. Zacks Research lowered Invesco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Evercore set a $35.00 target price on shares of Invesco in a research note on Monday, August 10th. Jefferies Financial Group raised shares of Invesco to a “hold” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised their price target on Invesco from $29.00 to $29.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, TD Cowen increased their target price on Invesco from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Invesco has an average rating of “Hold” and an average target price of $33.27.

Invesco Stock Down 1.4%

Shares of IVZ opened at $30.07 on Tuesday. The business’s 50 day simple moving average is $31.56 and its 200-day simple moving average is $28.52. Invesco has a one year low of $20.67 and a one year high of $33.66. The company has a market capitalization of $13.33 billion, a P/E ratio of -44.23, a PEG ratio of 0.45 and a beta of 1.65. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. As a group, sell-side analysts predict that Invesco will post 2.83 EPS for the current fiscal year.

Insider Transactions at Invesco

In other news, Director Phoebe A. Wood sold 3,000 shares of Invesco stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $32.44, for a total value of $97,320.00. Following the sale, the director directly owned 107,111 shares in the company, valued at $3,474,680.84. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Tak Shing Lo sold 100,840 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $32.20, for a total transaction of $3,247,048.00. Following the transaction, the director owned 812,477 shares of the company’s stock, valued at $26,161,759.40. The trade was a 11.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,540 shares of company stock worth $7,227,167 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Invesco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in shares of Invesco by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock valued at $518,836,000 after acquiring an additional 596,434 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Invesco by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager’s stock worth $83,356,000 after acquiring an additional 182,060 shares in the last quarter. Macquarie Group Ltd. boosted its position in Invesco by 0.9% during the fourth quarter. Macquarie Group Ltd. now owns 2,979,258 shares of the asset manager’s stock valued at $78,265,000 after purchasing an additional 27,065 shares during the last quarter. Bank of America Corp DE grew its stake in Invesco by 28.9% in the first quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock valued at $64,473,000 after purchasing an additional 595,797 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Invesco by 24.1% in the first quarter. Quantinno Capital Management LP now owns 1,574,728 shares of the asset manager’s stock valued at $38,250,000 after purchasing an additional 306,213 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across public and private markets and serves clients through a range of investment strategies.

Its offerings include exchange-traded funds, mutual funds, separately managed accounts, institutional mandates and alternative investments. Invesco provides exposure to equities, fixed income, commodities, multi-asset strategies and other asset classes, with both actively managed and index-based investment solutions.

Headquartered in Atlanta, Georgia, Invesco serves clients across North America, Europe, Asia-Pacific and other international markets through offices and investment teams around the world.