Invesco (IVZ) Stock Price Down 5.1% Following Analyst Downgrade

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Invesco Ltd. (NYSE:IVZ)’s share price fell 5.1% during trading on Thursday after Deutsche Bank lowered their price target on the stock from $30.00 to $27.00. Deutsche Bank currently has a buy rating on the stock. Invesco traded as low as $20.02 and last traded at $20.07. 11,476,202 shares changed hands during mid-day trading, an increase of 193% from the average session volume of 3,914,834 shares. The stock had previously closed at $21.14.

Several other equities research analysts have also recently weighed in on IVZ. Morgan Stanley lowered their target price on Invesco from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday. UBS Group lowered their target price on Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, October 8th. Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a report on Monday, September 24th. JPMorgan Chase & Co. set a $29.00 target price on Invesco and gave the stock a “buy” rating in a report on Monday, September 24th. Finally, Credit Suisse Group lowered their target price on Invesco from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $34.92.

Hedge funds have recently modified their holdings of the business. Sun Life Financial INC lifted its stake in shares of Invesco by 3,034.1% during the 2nd quarter. Sun Life Financial INC now owns 4,137 shares of the asset manager’s stock worth $110,000 after purchasing an additional 4,005 shares during the last quarter. First Interstate Bank lifted its stake in shares of Invesco by 89.2% during the 2nd quarter. First Interstate Bank now owns 4,500 shares of the asset manager’s stock worth $120,000 after purchasing an additional 2,122 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Invesco by 51.4% during the 2nd quarter. Bessemer Group Inc. now owns 6,706 shares of the asset manager’s stock worth $178,000 after purchasing an additional 2,277 shares during the last quarter. Private Capital Group LLC lifted its stake in shares of Invesco by 134.0% during the 2nd quarter. Private Capital Group LLC now owns 7,080 shares of the asset manager’s stock worth $188,000 after purchasing an additional 4,055 shares during the last quarter. Finally, Cozad Asset Management Inc. purchased a new stake in shares of Invesco during the 2nd quarter worth $210,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.94 and a beta of 1.65.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Thursday, July 26th. The asset manager reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $974.00 million during the quarter, compared to analysts’ expectations of $960.91 million. Invesco had a return on equity of 12.70% and a net margin of 21.64%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. As a group, analysts forecast that Invesco Ltd. will post 2.71 EPS for the current year.

About Invesco (NYSE:IVZ)

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.

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