The Goldman Sachs Group Cuts Invesco (NYSE:IVZ) Price Target to $16.75

Invesco (NYSE:IVZ) had its price target decreased by The Goldman Sachs Group from $17.75 to $16.75 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 17.71% from the company’s current price.

Several other brokerages have also weighed in on IVZ. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $17.00 price objective (down from $19.00) on shares of Invesco in a research report on Wednesday. Morgan Stanley lifted their target price on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. TD Cowen assumed coverage on Invesco in a report on Thursday, January 4th. They issued an “outperform” rating and a $21.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on Invesco from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Invesco presently has a consensus rating of “Hold” and an average price target of $17.25.

Invesco Stock Performance

IVZ traded down $0.35 during midday trading on Wednesday, reaching $14.23. The company had a trading volume of 3,184,688 shares, compared to its average volume of 4,674,117. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. Invesco has a 1 year low of $12.48 and a 1 year high of $18.71. The business has a 50-day moving average of $15.75 and a two-hundred day moving average of $15.45. The company has a market cap of $6.39 billion, a P/E ratio of -19.34, a P/E/G ratio of 1.03 and a beta of 1.44.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Invesco had a positive return on equity of 7.93% and a negative net margin of 1.70%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. As a group, equities research analysts predict that Invesco will post 1.75 earnings per share for the current fiscal year.

Institutional Trading of Invesco

Institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC acquired a new position in shares of Invesco during the 3rd quarter worth about $25,000. Gables Capital Management Inc. increased its stake in Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 700 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Invesco in the 3rd quarter valued at approximately $32,000. Sentry Investment Management LLC bought a new stake in shares of Invesco in the 3rd quarter valued at approximately $36,000. Finally, Pinnacle Bancorp Inc. grew its stake in shares of Invesco by 100.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds 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.