Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for Invesco (NYSE:IVZ)

Invesco (NYSE:IVZ)‘s stock had its “market perform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $17.00 price objective on the asset manager’s stock, down from their prior price objective of $19.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 17.16% from the stock’s previous close.

Several other equities analysts have also weighed in on IVZ. UBS Group cut their target price on Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Royal Bank of Canada raised their target price on Invesco from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, January 18th. JPMorgan Chase & Co. cut their price target on Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Wednesday. TD Cowen assumed coverage on Invesco in a research report on Thursday, January 4th. They issued an “outperform” rating and a $21.00 price objective for the company. Finally, Morgan Stanley upped their target price on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.79.

Invesco Stock Performance

Shares of NYSE IVZ opened at $14.51 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.01 and a quick ratio of 5.01. Invesco has a one year low of $12.48 and a one year high of $18.71. The business’s 50-day moving average price is $15.70 and its two-hundred day moving average price is $15.43. The company has a market capitalization of $6.52 billion, a P/E ratio of -19.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. Analysts anticipate that Invesco will post 1.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Invesco

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its position in Invesco by 1,411.1% in 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 in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Invesco during the 4th quarter worth approximately $61,795,000. Norges Bank acquired a new stake in Invesco in the 4th quarter valued at $59,713,000. Dimensional Fund Advisors LP grew its position in Invesco by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock valued at $246,163,000 after acquiring an additional 2,592,039 shares during the period. Finally, Northern Trust Corp raised its stake in Invesco by 30.7% during the third quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock worth $86,306,000 after acquiring an additional 1,395,023 shares in the last quarter. 66.09% of the stock is 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.