Invesco (NYSE:IVZ) Receives “Sector Perform” Rating from Royal Bank of Canada

Invesco (NYSE:IVZ)‘s stock had its “sector perform” rating reiterated by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They currently have a $19.00 price target on the asset manager’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 8.79% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company reduced their price objective on shares of Invesco from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group cut their price objective on shares of Invesco from $19.25 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley increased their price target on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, UBS Group raised their price objective on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. 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’s stock. Based on data from MarketBeat.com, Invesco presently has an average rating of “Hold” and an average target price of $18.71.

Invesco Trading Up 0.3 %

NYSE:IVZ traded up $0.05 on Thursday, reaching $17.47. 345,083 shares of the stock traded hands, compared to its average volume of 3,117,404. Invesco has a 1-year low of $14.16 and a 1-year high of $18.94. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $17.59 and its 200-day moving average is $17.19. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of -18.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue was down 20.8% compared to the same quarter last year. Equities research analysts anticipate that Invesco will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco

Institutional investors have recently modified their holdings of the company. Harmony Asset Management LLC lifted its stake in Invesco by 1.0% in the third quarter. Harmony Asset Management LLC now owns 61,400 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 600 shares during the last quarter. Centennial Wealth Advisory LLC lifted its stake in shares of Invesco by 4.5% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 19,095 shares of the asset manager’s stock valued at $335,000 after acquiring an additional 816 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Invesco by 1.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after acquiring an additional 946 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in 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, Sumitomo Mitsui Trust Group Inc. increased its stake in Invesco by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,149 shares of the asset manager’s stock worth $248,000 after purchasing an additional 1,167 shares during the period. 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.