Invesco (NYSE:IVZ) was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $22.00 target price on the asset manager’s stock, down from their prior target price of $27.00. Wells Fargo & Co’s price objective points to a potential upside of 12.65% from the company’s previous close.

IVZ has been the subject of several other reports. Deutsche Bank raised their price objective on Invesco from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Barclays reduced their price objective on Invesco from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday. Zacks Investment Research upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Royal Bank of Canada restated a “buy” rating and issued a $30.00 price objective on shares of Invesco in a research note on Friday, October 19th. Finally, UBS Group reduced their price objective on Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.91.

Invesco stock opened at $19.53 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.55 and a quick ratio of 1.55. Invesco has a one year low of $19.28 and a one year high of $38.43. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 0.88 and a beta of 1.50.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. Invesco had a return on equity of 12.25% and a net margin of 21.66%. The company had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $972.49 million. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that Invesco will post 2.66 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Invesco by 1.2% during the third quarter. Vanguard Group Inc. now owns 43,577,656 shares of the asset manager’s stock valued at $997,058,000 after acquiring an additional 524,580 shares in the last quarter. Legal & General Group Plc raised its position in Invesco by 3.3% during the third quarter. Legal & General Group Plc now owns 1,990,209 shares of the asset manager’s stock valued at $45,536,000 after acquiring an additional 64,224 shares in the last quarter. Rehmann Capital Advisory Group raised its position in Invesco by 2,270.1% during the third quarter. Rehmann Capital Advisory Group now owns 27,707 shares of the asset manager’s stock valued at $1,211,000 after acquiring an additional 26,538 shares in the last quarter. Neuberger Berman Group LLC raised its position in Invesco by 12.3% during the third quarter. Neuberger Berman Group LLC now owns 36,837 shares of the asset manager’s stock valued at $843,000 after acquiring an additional 4,045 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Invesco during the third quarter valued at approximately $1,332,000. Institutional investors own 79.96% 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.

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Analyst Recommendations for Invesco (NYSE:IVZ)

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