Royal Bank of Canada Initiates Coverage on Invesco (NYSE:IVZ)

Equities researchers at Royal Bank of Canada began coverage on shares of Invesco (NYSE:IVZ) in a research note issued on Tuesday. The brokerage set a “sector perform” rating and a $19.00 price target on the asset manager’s stock. Royal Bank of Canada’s target price suggests a potential downside of 1.85% from the stock’s previous close.

Several other research analysts have also recently commented on IVZ. Keefe, Bruyette & Woods reduced their target price on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, December 20th. Evercore ISI increased their price objective on shares of Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered their price target on Invesco from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Invesco has an average rating of “Hold” and a consensus price target of $18.50.

Invesco Stock Up 9.1 %

IVZ traded up $1.61 during trading on Tuesday, hitting $19.36. The company had a trading volume of 3,510,283 shares, compared to its average volume of 3,471,694. The firm’s 50-day moving average price is $17.60 and its 200 day moving average price is $17.25. The company has a market capitalization of $8.70 billion, a PE ratio of -21.00, a PEG ratio of 1.06 and a beta of 1.43. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco has a one year low of $14.16 and a one year high of $19.20.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that Invesco will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Invesco

A number of institutional investors have recently made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in Invesco by 484.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock worth $27,000 after purchasing an additional 1,285 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Invesco during the third quarter worth $35,000. Allworth Financial LP boosted its position in shares of Invesco by 304.0% in the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 1,806 shares during the period. Crews Bank & Trust bought a new stake in shares of Invesco in the fourth quarter valued at about $44,000. Finally, Truvestments Capital LLC bought a new position in Invesco during the third quarter worth about $76,000. Institutional investors 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.