Morgan Stanley Lowers Invesco (IVZ) to Equal Weight
Morgan Stanley cut shares of Invesco (NYSE:IVZ) from an overweight rating to an equal weight rating in a report published on Wednesday morning, MarketBeat reports. They currently have $39.00 price objective on the asset manager’s stock, down from their previous price objective of $40.00.
A number of other analysts also recently commented on the company. Royal Bank of Canada set a $47.00 target price on Invesco and gave the stock a buy rating in a research note on Saturday, December 16th. ValuEngine upgraded Invesco from a hold rating to a buy rating in a research note on Wednesday, December 6th. Zacks Investment Research downgraded Invesco from a buy rating to a hold rating in a research note on Wednesday, November 29th. Jefferies Group upped their target price on Invesco from $41.00 to $42.00 and gave the stock a buy rating in a research note on Friday, November 3rd. Finally, Citigroup upped their target price on Invesco from $43.00 to $44.00 and gave the stock a buy rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $39.17.
Shares of Invesco (NYSE IVZ) opened at $37.28 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $14,992.68, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.81. Invesco has a one year low of $28.75 and a one year high of $37.85.
Invesco (NYSE:IVZ) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The business had revenue of $976.60 million for the quarter, compared to the consensus estimate of $940.96 million. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. equities research analysts forecast that Invesco will post 2.66 earnings per share for the current year.
In related news, insider Colin Meadows sold 54,215 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total value of $1,952,282.15. Following the completion of the transaction, the insider now owns 164,420 shares of the company’s stock, valued at approximately $5,920,764.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IVZ. Sun Life Financial INC acquired a new position in Invesco in the 3rd quarter worth about $145,000. Valeo Financial Advisors LLC acquired a new position in Invesco in the 3rd quarter worth about $160,000. C M Bidwell & Associates Ltd. acquired a new position in Invesco in the 2nd quarter worth about $185,000. ETRADE Capital Management LLC acquired a new position in Invesco in the 3rd quarter worth about $205,000. Finally, Financial Counselors Inc. acquired a new position in Invesco in the 2nd quarter worth about $215,000. 81.30% of the stock is owned by institutional investors.
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Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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