Invesco (NYSE:IVZ) Stock Price Target Cut by TD Cowen

Key Points

• TD Cowen lowered Invesco’s price target from $39 to $38 while maintaining a “buy” rating, implying approximately 30.4% upside from the stock’s $29.14 price. The analyst consensus remains “Moderate Buy,” with an average target of $32.88.
• Invesco’s latest quarterly results exceeded expectations, with adjusted earnings of $0.71 per share versus the $0.67 consensus and revenue of $1.33 billion. Revenue rose 20.5% year over year.
• Shares declined 1.3% to $29.14, while insiders sold 222,540 shares worth about $7.2 million during the past quarter. Institutional investors and hedge funds own approximately 66.1% of the company.

Invesco (NYSE:IVZ - Get Free Report) had its price target cut by equities researchers at TD Cowen from $39.00 to $38.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the asset manager's stock. TD Cowen's price objective points to a potential upside of 30.42% from the company's current price.

IVZ has been the subject of several other research reports. UBS Group initiated coverage on shares of Invesco in a research note on Tuesday, October 6th. They issued a "buy" rating and a $41.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Invesco from $29.00 to $29.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Morgan Stanley increased their target price on shares of Invesco from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Friday, September 25th. Royal Bank Of Canada raised their price target on shares of Invesco from $35.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Zacks Research downgraded shares of Invesco from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.88.

Invesco Trading Down 1.3%

Shares of IVZ stock traded down $0.37 on Monday, hitting $29.14. The stock had a trading volume of 1,388,190 shares, compared to its average volume of 5,260,413. The company's 50 day moving average price is $31.56 and its 200-day moving average price is $28.56. Invesco has a 1 year low of $20.67 and a 1 year high of $33.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $12.92 billion, a P/E ratio of -42.86, a P/E/G ratio of 0.43 and a beta of 1.65.

Invesco (NYSE:IVZ - Get Free Report) last announced its 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. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.32 billion. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%. Invesco's revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Analysts anticipate that Invesco will post 2.83 earnings per share for the current year.

Insider Activity

In other news, Director Phoebe Wood sold 3,000 shares of Invesco stock in a transaction on 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 sale, the director directly owned 107,111 shares of the company's stock, valued at approximately $3,474,680.84. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew Tak Shing Lo sold 100,840 shares of Invesco stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $32.20, for a total transaction of $3,247,048.00. Following the sale, the director directly owned 812,477 shares of the company's stock, valued at approximately $26,161,759.40. This trade represents a 11.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,540 shares of company stock valued at $7,227,167 over the last quarter. Company insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Invesco

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC purchased a new position in shares of Invesco during the third quarter worth approximately $672,000. Riversedge Advisors LLC acquired a new stake in Invesco during the 3rd quarter worth $221,000. Wedmont Private Capital boosted its stake in Invesco by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 24,013 shares of the asset manager's stock worth $723,000 after purchasing an additional 1,093 shares during the period. LifeGoal Investments LLC acquired a new stake in Invesco during the 3rd quarter worth $232,000. Finally, GAMMA Investing LLC grew its position in Invesco by 5.7% during the 3rd quarter. GAMMA Investing LLC now owns 41,904 shares of the asset manager's stock worth $1,264,000 after purchasing an additional 2,248 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company's stock.

About Invesco

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.

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