Invesco (NYSE:IVZ) Given New $19.50 Price Target at TD Cowen

Invesco (NYSE:IVZ) had its price target decreased by stock analysts at TD Cowen from $21.00 to $19.50 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price would indicate a potential upside of 35.89% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $17.00 price target (down from $19.00) on shares of Invesco in a report on Wednesday. Wells Fargo & Company reduced their price objective on Invesco from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. TheStreet lowered shares of Invesco from a “b-” rating to a “c” rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada upped their price target on Invesco from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, January 18th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Invesco presently has an average rating of “Hold” and an average target price of $16.79.

Invesco Stock Down 1.6 %

IVZ traded down $0.23 during trading on Wednesday, reaching $14.35. 4,169,662 shares of the stock traded hands, compared to its average volume of 4,687,661. The stock’s 50-day simple moving average is $15.75 and its two-hundred day simple moving average is $15.45. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.01 and a quick ratio of 5.01. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.71. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -19.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.44.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. IRON Financial LLC grew its holdings in Invesco by 9.1% during the 1st quarter. IRON Financial LLC now owns 12,116 shares of the asset manager’s stock worth $201,000 after acquiring an additional 1,013 shares during the last quarter. Live Oak Private Wealth LLC increased its position in Invesco by 4.3% in the first quarter. Live Oak Private Wealth LLC now owns 319,199 shares of the asset manager’s stock worth $5,296,000 after purchasing an additional 13,016 shares during the period. Amalgamated Bank raised its holdings in Invesco by 5.7% during the 1st quarter. Amalgamated Bank now owns 131,032 shares of the asset manager’s stock worth $2,174,000 after purchasing an additional 7,056 shares during the last quarter. Insight Folios Inc lifted its position in Invesco by 2.0% during the 1st quarter. Insight Folios Inc now owns 390,278 shares of the asset manager’s stock valued at $6,475,000 after purchasing an additional 7,777 shares during the period. Finally, Norden Group LLC bought a new position in shares of Invesco in the 1st quarter valued at about $450,000. 66.09% of the stock is owned by institutional investors and hedge funds.

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.