The Goldman Sachs Group Trims Invesco (NYSE:IVZ) Target Price to $16.75

Invesco (NYSE:IVZ) had its price objective dropped by The Goldman Sachs Group from $17.75 to $16.75 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 15.44% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Morgan Stanley boosted their target price on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Wells Fargo & Company dropped their target price on shares of Invesco from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. JPMorgan Chase & Co. dropped their target price on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, UBS Group decreased 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.79.

Invesco Trading Down 0.1 %

Shares of Invesco stock opened at $14.51 on Wednesday. Invesco has a twelve month low of $12.48 and a twelve month high of $18.71. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $15.70 and a two-hundred day simple moving average of $15.43.

Invesco (NYSE:IVZ) last issued its quarterly earnings data 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.08 billion. Invesco had a positive return on equity of 7.11% and a negative net margin of 1.74%. Invesco’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. Equities research analysts predict that Invesco will post 1.74 EPS for the current year.

Institutional Investors Weigh In On Invesco

A number of institutional investors have recently added to or reduced their stakes in the business. Gables Capital Management Inc. grew its holdings in Invesco by 74.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after acquiring an additional 700 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Invesco by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 766 shares during the last quarter. Alaska Permanent Fund Corp boosted its stake in shares of Invesco by 0.5% in the 4th quarter. Alaska Permanent Fund Corp now owns 145,267 shares of the asset manager’s stock valued at $2,592,000 after purchasing an additional 767 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Invesco by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 20,127 shares of the asset manager’s stock valued at $292,000 after purchasing an additional 843 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in shares of Invesco by 16.1% in the 4th quarter. MCF Advisors LLC now owns 6,182 shares of the asset manager’s stock valued at $110,000 after purchasing an additional 855 shares during the last quarter. 66.09% of the stock is owned by institutional investors.

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.