Invesco (NYSE:IVZ) Upgraded at Zacks Research

Invesco (NYSE:IVZ) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also issued reports on IVZ. BMO Capital Markets reiterated an “outperform” rating on shares of Invesco in a research note on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Invesco in a report on Wednesday, October 8th. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $17.50 to $25.00 in a research note on Monday, July 21st. Wall Street Zen raised Invesco from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays raised their target price on Invesco from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.41.

Invesco Stock Down 0.1%

Shares of IVZ stock opened at $23.37 on Thursday. The stock’s 50 day simple moving average is $22.91 and its 200 day simple moving average is $19.14. Invesco has a twelve month low of $11.60 and a twelve month high of $24.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.85 and a beta of 1.72.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.17. Invesco had a return on equity of 8.52% and a net margin of 14.15%.The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts predict that Invesco will post 1.87 EPS for the current year.

Insider Buying and Selling at Invesco

In other Invesco news, Director Douglas J. Sharp sold 160,000 shares of Invesco stock in a transaction on Friday, October 31st. The shares were sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the sale, the director owned 192 shares in the company, valued at $4,523.52. The trade was a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares of the company’s stock, valued at approximately $660,392.60. This represents a 77.56% decrease in their position. The SEC filing for this sale provides additional information. 1.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IVZ. CNB Bank acquired a new stake in Invesco during the third quarter valued at approximately $26,000. Sentry Investment Management LLC bought a new position in shares of Invesco during the 3rd quarter worth approximately $30,000. Root Financial Partners LLC acquired a new stake in Invesco in the 3rd quarter valued at $30,000. Quent Capital LLC acquired a new stake in Invesco in the 3rd quarter valued at $37,000. Finally, Capital A Wealth Management LLC grew its position in Invesco by 4,802.9% in the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 1,633 shares during the period. Institutional investors own 66.09% of the company’s stock.

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.