Invesco (NYSE:IVZ) Stock Rating Upgraded by BMO Capital Markets

Invesco (NYSE:IVZ) was upgraded by equities researchers at BMO Capital Markets to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also issued reports on the company. Cowen reiterated a “buy” rating on shares of Invesco in a report on Thursday, September 18th. TD Cowen upgraded Invesco from a “hold” rating to a “buy” rating and upped their target price for the stock from $17.50 to $25.00 in a report on Monday, July 21st. Evercore ISI reiterated a “positive” rating on shares of Invesco in a report on Friday, September 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Invesco in a report on Saturday, September 27th. Finally, Zacks Research upgraded Invesco to a “hold” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Invesco presently has a consensus rating of “Hold” and a consensus target price of $20.92.

Invesco Stock Up 1.9%

IVZ stock opened at $24.05 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $10.72 billion, a P/E ratio of 25.86, a P/E/G ratio of 1.33 and a beta of 1.66. The business has a 50-day moving average of $21.84 and a 200-day moving average of $17.48. Invesco has a fifty-two week low of $11.60 and a fifty-two week high of $24.21.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.05). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share. On average, sell-side analysts anticipate that Invesco will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Invesco

In other news, Director Stephanie Butcher sold 103,192 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was 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 of the company’s stock, valued at approximately $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On Invesco

Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in Invesco by 20.3% during the first quarter. Rhumbline Advisers now owns 790,044 shares of the asset manager’s stock worth $11,985,000 after purchasing an additional 133,370 shares during the last quarter. NBC Securities Inc. lifted its stake in Invesco by 95,882.4% during the first quarter. NBC Securities Inc. now owns 16,317 shares of the asset manager’s stock worth $247,000 after purchasing an additional 16,300 shares during the last quarter. Merit Financial Group LLC lifted its stake in Invesco by 40.8% during the first quarter. Merit Financial Group LLC now owns 52,482 shares of the asset manager’s stock worth $796,000 after purchasing an additional 15,201 shares during the last quarter. Curat Global LLC bought a new stake in Invesco during the first quarter worth $49,000. Finally, Farther Finance Advisors LLC lifted its stake in Invesco by 16.1% during the first quarter. Farther Finance Advisors LLC now owns 24,866 shares of the asset manager’s stock worth $378,000 after purchasing an additional 3,449 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

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.