Invesco (NYSE:IVZ) Price Target Increased to $20.00 by Analysts at JPMorgan Chase & Co.

Invesco (NYSE:IVZ) had its target price raised by research analysts at JPMorgan Chase & Co. from $17.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 8.11% from the company’s current price.

IVZ has been the topic of a number of other research reports. Evercore ISI increased their target price on Invesco from $17.00 to $18.00 and gave the company an “in-line” rating in a research report on Tuesday, August 20th. Barclays initiated coverage on Invesco in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price objective for the company. The Goldman Sachs Group increased their price objective on Invesco from $17.25 to $17.50 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price target on shares of Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley boosted their price target on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.71.

Invesco Stock Down 0.7 %

IVZ stock traded down $0.13 during trading on Monday, reaching $18.50. 1,233,308 shares of the company traded hands, compared to its average volume of 4,217,445. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of -24.67, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. The business has a 50 day simple moving average of $17.03 and a 200 day simple moving average of $16.07. Invesco has a 12 month low of $12.48 and a 12 month high of $18.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. On average, equities research analysts anticipate that Invesco will post 1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Invesco

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in Invesco by 714.3% during the third quarter. Blue Trust Inc. now owns 6,783 shares of the asset manager’s stock worth $119,000 after purchasing an additional 5,950 shares during the period. Claro Advisors LLC acquired a new stake in Invesco during the 3rd quarter worth approximately $253,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Invesco by 1.3% during the third 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. B.O.S.S. Retirement Advisors LLC lifted its position in shares of Invesco by 3.5% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 72,037 shares of the asset manager’s stock worth $1,265,000 after purchasing an additional 2,416 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in Invesco during the third quarter valued at $4,889,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.