Invesco’s (IVZ) “Market Perform” Rating Reaffirmed at Keefe, Bruyette & Woods

Invesco (NYSE:IVZ)‘s stock had its “market perform” rating reiterated by equities researchers at Keefe, Bruyette & Woods in a research note issued on Wednesday,Benzinga reports. They currently have a $20.00 price target on the asset manager’s stock, up from their previous price target of $18.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 4.23% from the stock’s previous close.

Several other research firms also recently commented on IVZ. Royal Bank of Canada started coverage on shares of Invesco in a report on Tuesday. They issued a “sector perform” rating and a $19.00 target price on the stock. Barclays increased their price objective on shares of Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Invesco from $17.00 to $19.50 and gave the stock an “underweight” rating in a report on Wednesday. Morgan Stanley lowered 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. Finally, JPMorgan Chase & Co. dropped their price target on Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Invesco presently has a consensus rating of “Hold” and an average price target of $19.27.

Invesco Price Performance

IVZ stock traded down $0.15 during trading on Wednesday, reaching $19.19. The company’s stock had a trading volume of 2,362,731 shares, compared to its average volume of 3,981,804. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average is $17.64 and its 200-day moving average is $17.27. The company has a market capitalization of $8.62 billion, a P/E ratio of -20.87, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. Invesco has a 1 year low of $14.16 and a 1 year high of $19.49.

Invesco (NYSE:IVZ) last released 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 positive return on equity of 8.83% and a negative net margin of 3.00%. On average, research analysts expect that Invesco will post 1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Invesco

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