Invesco (NYSE:IVZ) Stock Gets Price Target Boost from Royal Bank Of Canada

Invesco (NYSE:IVZ) had its target price lifted by investment analysts at Royal Bank Of Canada from $35.00 to $36.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada’s price target points to a potential upside of 21.09% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Evercore set a $35.00 target price on Invesco in a research report on Monday, August 10th. Wall Street Zen lowered Invesco from a “buy” rating to a “hold” rating in a research note on Saturday, September 26th. Zacks Research downgraded Invesco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Keefe, Bruyette & Woods initiated coverage on Invesco in a report on Wednesday, September 9th. They set an “outperform” rating and a $39.00 target price for the company. Finally, Barclays upped their price target on Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.04.

Invesco Price Performance

IVZ opened at $29.73 on Friday. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of -44.07, a PEG ratio of 0.45 and a beta of 1.65. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $31.56 and a 200-day moving average price of $28.52. Invesco has a twelve month low of $20.67 and a twelve month high of $33.66.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $0.36 EPS. Invesco’s revenue was up 20.5% compared to the same quarter last year. Equities analysts expect that Invesco will post 2.83 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Laura Dukes sold 31,075 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the completion of the transaction, the chief financial officer owned 259,183 shares of the company’s stock, valued at approximately $8,594,508.28. The trade was a 10.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew Tak Shing Lo sold 100,840 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $32.20, for a total value of $3,247,048.00. Following the transaction, the director directly owned 812,477 shares of the company’s stock, valued at $26,161,759.40. The trade was a 11.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,540 shares of company stock valued at $7,227,167 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Invesco

A number of institutional investors and hedge funds have recently bought and sold shares of IVZ. California State Teachers Retirement System lifted its holdings in Invesco by 23.4% in the first quarter. California State Teachers Retirement System now owns 417,476 shares of the asset manager’s stock worth $10,140,000 after buying an additional 79,273 shares during the period. NewEdge Advisors LLC grew its stake in shares of Invesco by 229.7% during the 2nd quarter. NewEdge Advisors LLC now owns 222,541 shares of the asset manager’s stock valued at $5,873,000 after purchasing an additional 155,038 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Invesco by 2,633.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager’s stock valued at $23,330,000 after buying an additional 925,300 shares during the last quarter. Sonoma Allocations LLC purchased a new position in Invesco during the second quarter valued at $11,797,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Invesco by 5,543.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 68,455 shares of the asset manager’s stock valued at $1,839,000 after buying an additional 67,242 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across public and private markets and serves clients through a range of investment strategies.

Its offerings include exchange-traded funds, mutual funds, separately managed accounts, institutional mandates and alternative investments. Invesco provides exposure to equities, fixed income, commodities, multi-asset strategies and other asset classes, with both actively managed and index-based investment solutions.

Headquartered in Atlanta, Georgia, Invesco serves clients across North America, Europe, Asia-Pacific and other international markets through offices and investment teams around the world.