Invesco (NYSE:IVZ) Given New $24.00 Price Target at Barclays

Invesco (NYSE:IVZ) had its price objective cut by equities research analysts at Barclays from $29.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Barclays‘s target price indicates a potential downside of 3.06% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Invesco from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Royal Bank Of Canada cut their target price on Invesco from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 28th. Morgan Stanley cut their target price on Invesco from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. The Goldman Sachs Group cut their target price on Invesco from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, BMO Capital Markets decreased their target price on Invesco from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and an average price target of $27.61.

Invesco Stock Up 3.1%

NYSE:IVZ traded up $0.75 during trading hours on Friday, reaching $24.76. The company had a trading volume of 958,058 shares, compared to its average volume of 5,829,936. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.04. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of -15.48, a P/E/G ratio of 0.61 and a beta of 1.66. The business’s 50-day simple moving average is $24.75 and its two-hundred day simple moving average is $25.18. Invesco has a twelve month low of $12.27 and a twelve month high of $29.61.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 27th. The asset manager reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Invesco had a negative net margin of 6.92% and a positive return on equity of 10.26%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. On average, equities analysts expect that Invesco will post 1.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Citigroup Inc. lifted its holdings in Invesco by 53.3% during the 3rd quarter. Citigroup Inc. now owns 732,436 shares of the asset manager’s stock worth $16,802,000 after purchasing an additional 254,501 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Invesco in the third quarter worth $3,021,000. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Invesco in the third quarter worth $1,130,000. Thrivent Financial for Lutherans raised its position in shares of Invesco by 83.5% in the third quarter. Thrivent Financial for Lutherans now owns 631,046 shares of the asset manager’s stock worth $14,476,000 after buying an additional 287,219 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Invesco by 177.2% in the third quarter. Sequoia Financial Advisors LLC now owns 27,841 shares of the asset manager’s stock worth $639,000 after buying an additional 17,798 shares in the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.