Invesco PLC (NYSE:IVZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $40.00 target price on the asset manager’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.86% from the stock’s previous close.
According to Zacks, “Invesco’s shares have underperformed the industry so far this year. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. With an aim to enhance its exchange-traded funds (ETF) operation, the company has inked a deal to acquire the ETF business of Guggenheim Partners LLC. Strong balance sheet position along with cost savings efforts, improving assets under management (AUM), diverse product offerings and alternative investment strategies should continue supporting growth. However, high-debt levels, and amortization of goodwill and intangible assets could have an adverse effect on the company’s profitability.”
A number of other brokerages also recently issued reports on IVZ. Wells Fargo & Company lifted their price target on Invesco PLC from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays PLC started coverage on Invesco PLC in a research report on Friday, September 8th. They set an “overweight” rating and a $38.00 price target for the company. Royal Bank Of Canada started coverage on Invesco PLC in a research report on Thursday, June 29th. They set an “outperform” rating and a $41.00 price target for the company. Jefferies Group LLC set a $41.00 price target on Invesco PLC and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, BidaskClub downgraded Invesco PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Invesco PLC presently has an average rating of “Buy” and a consensus price target of $38.04.
Invesco PLC (IVZ) traded up 0.19% during trading on Wednesday, reaching $36.15. 1,414,621 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $33.60 and its 200-day moving average price is $33.39. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 16.14 and a beta of 1.80. Invesco PLC has a 12 month low of $27.46 and a 12 month high of $36.83.
Invesco PLC (NYSE:IVZ) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The company had revenue of $906.30 million during the quarter, compared to analyst estimates of $891.19 million. During the same quarter last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Invesco PLC will post $2.56 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Invesco PLC by 2,611.3% during the first quarter. BlackRock Inc. now owns 32,067,091 shares of the asset manager’s stock valued at $982,213,000 after buying an additional 30,884,375 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Invesco PLC by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,344,769 shares of the asset manager’s stock valued at $47,323,000 after buying an additional 87,755 shares during the period. Legal & General Group Plc increased its stake in shares of Invesco PLC by 5.4% during the first quarter. Legal & General Group Plc now owns 2,100,821 shares of the asset manager’s stock valued at $64,347,000 after buying an additional 108,212 shares during the period. Eaton Vance Management increased its stake in shares of Invesco PLC by 247.2% during the second quarter. Eaton Vance Management now owns 452,597 shares of the asset manager’s stock valued at $15,927,000 after buying an additional 322,230 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Invesco PLC by 17.3% during the second quarter. Wells Fargo & Company MN now owns 1,300,168 shares of the asset manager’s stock valued at $45,754,000 after buying an additional 192,018 shares during the period. 79.79% of the stock is currently owned by hedge funds and other institutional investors.
Invesco PLC Company Profile
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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