Invesco (NYSE:IVZ) Rating Reiterated by BMO Capital Markets

Invesco (NYSE:IVZ)‘s stock had its “market perform” rating reissued by investment analysts at BMO Capital Markets in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $17.00 price target on the asset manager’s stock, down from their prior price target of $18.00. BMO Capital Markets’ price target would indicate a potential upside of 19.30% from the company’s previous close.

IVZ has been the topic of several other reports. Royal Bank of Canada upped their price objective on shares of Invesco from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, January 18th. The Goldman Sachs Group dropped their price objective on shares of Invesco from $17.75 to $16.75 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Finally, UBS Group lowered their price target on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.92.

Invesco Stock Down 2.3 %

IVZ stock traded down $0.33 during midday trading on Wednesday, reaching $14.25. 3,754,297 shares of the company’s stock traded hands, compared to its average volume of 4,679,363. Invesco has a 52 week low of $12.48 and a 52 week high of $18.71. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.40 billion, a price-to-earnings ratio of -19.28, a P/E/G ratio of 1.03 and a beta of 1.44. The firm’s fifty day moving average price is $15.75 and its 200-day moving average price is $15.45.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. Invesco’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, sell-side analysts forecast that Invesco will post 1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Invesco by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock worth $246,163,000 after acquiring an additional 2,592,039 shares during the period. Northern Trust Corp lifted its stake in Invesco by 30.7% in the third quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock worth $86,306,000 after acquiring an additional 1,395,023 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Invesco by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,034,956 shares of the asset manager’s stock worth $71,984,000 after acquiring an additional 136,582 shares during the period. Fisher Asset Management LLC lifted its stake in Invesco by 11.1% in the fourth quarter. Fisher Asset Management LLC now owns 3,921,250 shares of the asset manager’s stock worth $69,955,000 after acquiring an additional 391,935 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in Invesco by 1,411.1% in the fourth quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock worth $67,016,000 after acquiring an additional 3,507,900 shares during the period. 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.