Invesco (NYSE:IVZ – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
A number of other research firms also recently issued reports on IVZ. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Invesco from $24.00 to $21.00 in a report on Thursday, May 19th. Keefe, Bruyette & Woods cut shares of Invesco from an “outperform” rating to a “market perform” rating and set a $25.00 price target on the stock. in a research note on Tuesday, April 12th. Citigroup reduced their price objective on Invesco from $26.00 to $22.50 in a research note on Wednesday, April 27th. Morgan Stanley cut their price target on Invesco from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Finally, The Goldman Sachs Group raised their price objective on Invesco from $23.00 to $24.50 and gave the stock a “neutral” rating in a research note on Thursday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Invesco presently has a consensus rating of “Hold” and an average price target of $25.55.
IVZ traded up $0.30 during mid-day trading on Friday, reaching $19.54. 1,967,067 shares of the company traded hands, compared to its average volume of 4,817,103. The company’s fifty day moving average price is $20.26 and its 200-day moving average price is $21.93. The stock has a market capitalization of $8.89 billion, a P/E ratio of 6.86, a P/E/G ratio of 1.17 and a beta of 1.25. The company has a quick ratio of 4.21, a current ratio of 4.21 and a debt-to-equity ratio of 0.77. Invesco has a 52-week low of $16.76 and a 52-week high of $29.71.
Invesco (NYSE:IVZ – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The asset manager reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). Invesco had a return on equity of 13.70% and a net margin of 22.72%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.28 billion. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. As a group, sell-side analysts forecast that Invesco will post 2.58 earnings per share for the current fiscal year.
In other news, Director Gregory Mcgreevey sold 200,000 shares of the stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $19.60, for a total transaction of $3,920,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Trian Fund Management, L.P. purchased 1,500,000 shares of Invesco stock in a transaction that occurred on Wednesday, March 30th. The stock was acquired at an average price of $23.36 per share, for a total transaction of $35,040,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 8,459,690 shares of company stock worth $181,140,834. Company insiders own 1.94% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in Invesco in the first quarter worth about $396,000. Creative Planning purchased a new position in shares of Invesco in the 3rd quarter worth approximately $237,000. US Bancorp DE increased its position in shares of Invesco by 13.5% during the 3rd quarter. US Bancorp DE now owns 39,111 shares of the asset manager’s stock valued at $944,000 after purchasing an additional 4,647 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in Invesco by 6.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 148,002 shares of the asset manager’s stock valued at $3,568,000 after buying an additional 9,364 shares during the period. Finally, Aviva PLC lifted its position in Invesco by 7.2% in the third quarter. Aviva PLC now owns 59,095 shares of the asset manager’s stock worth $1,425,000 after buying an additional 3,945 shares during the last quarter. Hedge funds and other institutional investors own 67.53% of the company’s stock.
About Invesco (Get Rating)
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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