Royal Bank of Canada Boosts Invesco (NYSE:IVZ) Price Target to $19.00

Invesco (NYSE:IVZ) had its price target raised by research analysts at Royal Bank of Canada from $18.00 to $19.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the asset manager’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 9.26% from the stock’s current price.

Several other analysts also recently weighed in on the company. Morgan Stanley upped their price objective on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday. Evercore ISI upped their target price on Invesco from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday. Finally, UBS Group increased their price target on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.38.

Invesco Price Performance

Shares of NYSE:IVZ traded down $0.65 during trading on Wednesday, reaching $17.39. 3,229,044 shares of the company traded hands, compared to its average volume of 4,253,263. The company’s 50 day moving average is $17.10 and its two-hundred day moving average is $16.09. The firm has a market capitalization of $7.82 billion, a PE ratio of -23.17, a PEG ratio of 1.10 and a beta of 1.44. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. Invesco has a 52 week low of $12.48 and a 52 week high of $18.79.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned $0.35 EPS. Invesco’s revenue for the quarter was down 20.8% on a year-over-year basis. As a group, sell-side analysts predict that Invesco will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC increased its position in Invesco by 9.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 38,284 shares of the asset manager’s stock worth $635,000 after buying an additional 3,327 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Invesco by 53.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 54,426 shares of the asset manager’s stock valued at $903,000 after purchasing an additional 18,942 shares in the last quarter. Aviance Capital Partners LLC grew its position in shares of Invesco by 2.9% in the first quarter. Aviance Capital Partners LLC now owns 64,931 shares of the asset manager’s stock valued at $1,077,000 after purchasing an additional 1,829 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Invesco in the first quarter valued at $169,000. Finally, Norden Group LLC bought a new stake in Invesco during the first quarter valued at $450,000. Institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

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.