Invesco (NYSE:IVZ) Stock Gets Downgrade from Wall Street Zen

Invesco (NYSE:IVZ) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

IVZ has been the subject of several other research reports. Morgan Stanley increased their target price on Invesco from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, September 25th. Keefe, Bruyette & Woods assumed coverage on Invesco in a research note on Wednesday, September 9th. They set an “outperform” rating and a $39.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Invesco from $29.00 to $29.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Zacks Research downgraded Invesco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Finally, Royal Bank Of Canada upped their price target on Invesco from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.12.

Invesco Stock Up 0.3%

Shares of IVZ stock opened at $28.29 on Friday. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of -41.61, a PEG ratio of 0.45 and a beta of 1.65. Invesco has a one year low of $20.67 and a one year high of $33.66. The company’s fifty day moving average price is $31.18 and its 200-day moving average price is $28.76. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Sell-side analysts expect that Invesco will post 2.82 EPS for the current fiscal year.

Insider Activity at Invesco

In other Invesco news, Director Phoebe Wood sold 3,000 shares of the 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 owned 107,111 shares of the company’s stock, valued at $3,474,680.84. This represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephanie Butcher sold 45,095 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $32.28, for a total value 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. Insiders have sold 222,540 shares of company stock worth $7,227,167 in the last quarter. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Invesco

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of Invesco by 23.4% in the 1st quarter. California State Teachers Retirement System now owns 417,476 shares of the asset manager’s stock worth $10,140,000 after buying an additional 79,273 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Invesco by 229.7% in the 2nd quarter. NewEdge Advisors LLC now owns 222,541 shares of the asset manager’s stock worth $5,873,000 after buying an additional 155,038 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Invesco by 2,633.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager’s stock worth $23,330,000 after buying an additional 925,300 shares during the last quarter. Sonoma Allocations LLC bought a new stake in shares of Invesco in the 2nd quarter worth about $11,797,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Invesco by 5,543.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 68,455 shares of the asset manager’s stock worth $1,839,000 after buying an additional 67,242 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global investment management company that provides investment products and services to individual investors, financial professionals, institutions and governments. The company manages assets across a range of strategies, including equities, fixed income, multi-asset portfolios, alternatives, money market funds and cash management.

Invesco offers mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment solutions.