Argus Issues Positive Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price target upped by stock analysts at Argus from $20.00 to $22.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Argus’ target price would suggest a potential upside of 13.90% from the stock’s previous close.

Several other research firms have also recently issued reports on IVZ. Morgan Stanley cut their target price on Invesco from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday. The Goldman Sachs Group cut their target price on Invesco from $19.25 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group increased their target price on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada began coverage on Invesco in a research report on Tuesday. They set a “sector perform” rating and a $19.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.92.

Invesco Stock Performance

NYSE:IVZ opened at $19.32 on Wednesday. The stock has a 50-day simple moving average of $17.64 and a two-hundred day simple moving average of $17.27. Invesco has a 52-week low of $14.16 and a 52-week high of $19.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a market capitalization of $8.68 billion, a PE ratio of -20.99, a P/E/G ratio of 1.06 and a beta of 1.43.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. Analysts forecast that Invesco will post 1.7 EPS for the current year.

Institutional Investors Weigh In On Invesco

Institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC lifted its stake 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 last quarter. Massachusetts Mutual Life Insurance Co. bought a new stake in shares of Invesco during the 3rd quarter worth approximately $1,428,196,000. Algert Global LLC bought a new stake in shares of Invesco during the 2nd quarter worth approximately $551,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Invesco by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock worth $1,378,000 after acquiring an additional 1,020 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Invesco during the 3rd quarter worth approximately $853,000. 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.