Citigroup Has Lowered Expectations for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its target price decreased by Citigroup from $20.00 to $16.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Citigroup’s target price would suggest a potential upside of 6.27% from the company’s current price.

A number of other analysts have also commented on IVZ. Barclays boosted their price objective on Invesco from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada initiated coverage on shares of Invesco in a research report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $20.00 target price (up from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. Finally, UBS Group boosted their target price on Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.66.

Invesco Trading Down 0.9 %

IVZ traded down $0.13 during trading on Monday, reaching $15.06. 987,950 shares of the company’s stock were exchanged, compared to its average volume of 4,055,587. The firm has a fifty day moving average price of $17.14 and a two-hundred day moving average price of $17.44. The stock has a market capitalization of $6.74 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. Invesco has a one year low of $14.16 and a one year high of $19.55. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. As a group, equities research analysts forecast that Invesco will post 1.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Invesco

Large investors have recently made changes to their positions in the business. Massachusetts Mutual Life Insurance Co. purchased a new position in Invesco during the 3rd quarter valued at $1,428,196,000. Norges Bank purchased a new position in shares of Invesco during the 4th quarter worth approximately $57,459,000. AQR Capital Management LLC raised its position in shares of Invesco by 38.5% in the 4th quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock worth $142,385,000 after acquiring an additional 2,264,551 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Invesco by 2,385.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock valued at $29,301,000 after purchasing an additional 1,642,645 shares during the period. Finally, Azora Capital LP purchased a new position in Invesco during the third quarter valued at $27,289,000. 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.