The Goldman Sachs Group Cuts Invesco (NYSE:IVZ) Price Target to $19.00

Invesco (NYSE:IVZ) had its price objective lowered by The Goldman Sachs Group from $19.25 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 8.45% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Evercore ISI lifted their price target on Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group upped their price target on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Barclays raised their price objective on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley boosted their price target on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.83.

Invesco Trading Up 0.7 %

NYSE:IVZ opened at $17.52 on Tuesday. The stock’s 50 day simple moving average is $17.81 and its 200-day simple moving average is $17.04. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $7.87 billion, a P/E ratio of -19.04, a PEG ratio of 1.05 and a beta of 1.43.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities analysts anticipate that Invesco will post 1.7 EPS for the current year.

Institutional Investors Weigh In On Invesco

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC boosted its stake in Invesco by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock worth $79,738,000 after buying an additional 87,405 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Invesco by 115.7% in the second quarter. Marshall Wace LLP now owns 1,221,187 shares of the asset manager’s stock worth $18,269,000 after acquiring an additional 654,960 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Invesco in the second quarter valued at approximately $576,000. Massachusetts Mutual Life Insurance Co. acquired a new position in Invesco during the third quarter worth approximately $1,428,196,000. Finally, Algert Global LLC purchased a new position in Invesco during the second quarter worth approximately $551,000. Hedge funds and other 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.