Invesco (NYSE:IVZ) Given New $38.00 Price Target at TD Cowen

Invesco (NYSE:IVZ) had its price target decreased by TD Cowen from $39.00 to $38.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price would suggest a potential upside of 30.42% from the company’s previous close.

A number of other brokerages also recently issued reports on IVZ. Royal Bank Of Canada increased their price target on shares of Invesco from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday. Wall Street Zen raised shares of Invesco from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley upped their target price on shares of Invesco from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, September 25th. Barclays increased their target price on shares of Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Invesco from $29.00 to $29.50 and gave the company a “neutral” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.88.

Invesco Stock Performance

Invesco stock traded down $0.37 during mid-day trading on Monday, reaching $29.14. 1,388,190 shares of the company were exchanged, compared to its average volume of 5,260,413. Invesco has a twelve month low of $20.67 and a twelve month high of $33.66. The firm’s 50-day simple moving average is $31.56 and its two-hundred day simple moving average is $28.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $12.92 billion, a PE ratio of -42.86, a price-to-earnings-growth ratio of 0.43 and a beta of 1.65.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%. The company’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Equities analysts predict that Invesco will post 2.83 earnings per share for the current fiscal year.

Insider Transactions at Invesco

In other Invesco news, Director Phoebe A. Wood sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $32.44, for a total transaction of $97,320.00. Following the completion of the transaction, the director directly owned 107,111 shares in the company, valued at approximately $3,474,680.84. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephanie Butcher sold 45,095 shares of Invesco stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $32.28, for a total transaction of $1,455,666.60. Following the transaction, the director owned 10,205 shares of the company’s stock, valued at approximately $329,417.40. The trade was a 81.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 222,540 shares of company stock worth $7,227,167. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Invesco

Institutional investors and hedge funds have recently modified their holdings of the business. Elevation Wealth Partners LLC lifted its stake in Invesco by 141.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,010 shares of the asset manager’s stock valued at $30,000 after buying an additional 591 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Invesco by 80.1% during the first quarter. SJS Investment Consulting Inc. now owns 1,207 shares of the asset manager’s stock worth $29,000 after acquiring an additional 537 shares during the last quarter. Continuum Advisory LLC purchased a new stake in Invesco in the 2nd quarter worth approximately $39,000. Blue Trust Inc. grew its stake in Invesco by 171.0% in the 1st quarter. Blue Trust Inc. now owns 1,859 shares of the asset manager’s stock worth $45,000 after acquiring an additional 1,173 shares during the period. Finally, CENTRAL TRUST Co grew its stake in Invesco by 389.6% in the 1st quarter. CENTRAL TRUST Co now owns 1,875 shares of the asset manager’s stock worth $46,000 after acquiring an additional 1,492 shares during the period. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across public and private markets and serves clients through a range of investment strategies.

Its offerings include exchange-traded funds, mutual funds, separately managed accounts, institutional mandates and alternative investments. Invesco provides exposure to equities, fixed income, commodities, multi-asset strategies and other asset classes, with both actively managed and index-based investment solutions.

Headquartered in Atlanta, Georgia, Invesco serves clients across North America, Europe, Asia-Pacific and other international markets through offices and investment teams around the world.