The Goldman Sachs Group Issues Pessimistic Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its target price cut by investment analysts at The Goldman Sachs Group from $19.25 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 10.98% from the company’s current price.

IVZ has been the topic of several other research reports. UBS Group upped their price target on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their price target on shares of Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut their price objective on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.83.

Invesco Stock Down 0.2 %

Shares of NYSE IVZ opened at $17.12 on Tuesday. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.69 billion, a price-to-earnings ratio of -18.61, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94. The firm’s 50-day simple moving average is $17.78 and its 200 day simple moving average is $17.05.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.35 earnings per share. Invesco’s revenue for the quarter was down 20.8% compared to the same quarter last year. On average, research analysts expect that Invesco will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Invesco

Large investors have recently modified their holdings of the business. Fisher Asset Management LLC grew its position in shares of Invesco by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after purchasing an additional 87,405 shares during the period. Marshall Wace LLP lifted its stake in Invesco by 115.7% in the second quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock valued at $18,269,000 after buying an additional 654,960 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Invesco in the second quarter valued at approximately $576,000. Massachusetts Mutual Life Insurance Co. bought a new stake in shares of Invesco during the third quarter worth $1,428,196,000. Finally, Algert Global LLC acquired a new stake in shares of Invesco during the second quarter worth $551,000. 66.09% of the stock is currently owned by 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.