Invesco (NYSE:IVZ) Upgraded to Strong-Buy at Zacks Research

Invesco (NYSE:IVZ) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

IVZ has been the topic of several other research reports. Barclays lifted their price objective on shares of Invesco from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Wells Fargo & Company upgraded shares of Invesco from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. Bank of America increased their price objective on Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a research note on Wednesday, October 8th. Finally, Evercore ISI boosted their target price on Invesco from $24.00 to $26.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.41.

Invesco Stock Down 0.1%

Shares of IVZ stock opened at $23.37 on Thursday. Invesco has a 1 year low of $11.60 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.30. The business’s fifty day moving average is $22.91 and its 200-day moving average is $19.14. The stock has a market cap of $10.42 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.72.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a return on equity of 8.52% and a net margin of 14.15%.The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts expect that Invesco will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Invesco

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the transaction, the director owned 29,855 shares in the company, valued at approximately $660,392.60. This represents a 77.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas J. Sharp sold 160,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the completion of the sale, the director owned 192 shares of the company’s stock, valued at approximately $4,523.52. The trade was a 99.88% decrease in their position. The SEC filing for this sale provides additional information. 1.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Invesco

A number of hedge funds have recently modified their holdings of IVZ. Capital A Wealth Management LLC increased its position in Invesco by 4,802.9% in the 2nd quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock worth $26,000 after purchasing an additional 1,633 shares during the last quarter. CNB Bank bought a new stake in shares of Invesco in the 3rd quarter valued at approximately $26,000. Federated Hermes Inc. increased its holdings in Invesco by 186.6% in the first quarter. Federated Hermes Inc. now owns 1,969 shares of the asset manager’s stock worth $30,000 after buying an additional 1,282 shares during the last quarter. Root Financial Partners LLC bought a new position in Invesco during the third quarter valued at approximately $30,000. Finally, Sentry Investment Management LLC bought a new position in Invesco during the third quarter valued at approximately $30,000. 66.09% of the stock is owned by institutional investors and hedge funds.

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.