Bank of America Cuts Invesco (NYSE:IVZ) Price Target to $18.00

Invesco (NYSE:IVZ) had its price target lowered by equities research analysts at Bank of America from $19.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Bank of America‘s target price points to a potential upside of 14.43% from the stock’s previous close.

A number of other research firms have also recently commented on IVZ. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. TD Cowen decreased their price objective on shares of Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. BMO Capital Markets lifted their target price on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Argus upped their price target on Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their price objective on Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.55.

Invesco Stock Up 3.6 %

Shares of NYSE IVZ opened at $15.73 on Thursday. The company has a market capitalization of $7.04 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.98 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. The company has a 50 day simple moving average of $17.02 and a 200-day simple moving average of $17.41. Invesco has a 1 year low of $14.16 and a 1 year high of $19.55.

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

Institutional Trading of Invesco

A number of institutional investors have recently bought and sold shares of the business. Massachusetts Mutual Life Insurance Co. acquired a new stake in shares of Invesco during the 3rd quarter worth about $1,428,196,000. Vanguard Group Inc. increased its stake in Invesco by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 51,494,654 shares of the asset manager’s stock valued at $900,127,000 after purchasing an additional 419,389 shares during the last quarter. State Street Corp raised its holdings in Invesco by 0.7% during the third quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock worth $369,823,000 after purchasing an additional 151,408 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Invesco by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,104,545 shares of the asset manager’s stock worth $351,430,000 after purchasing an additional 274,134 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Invesco by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 10,383,206 shares of the asset manager’s stock worth $181,281,000 after buying an additional 134,726 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other 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.