Invesco (NYSE:IVZ) Stock Rating Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Invesco from “Buy” to “Hold.” Despite the cut, analysts’ overall consensus remains “Moderate Buy,” with an average price target of $33.12.
• Invesco reported quarterly EPS of $0.71, exceeding estimates of $0.67, while revenue rose 20.5% year over year to $1.33 billion.
• The stock opened at $28.19, down 2.1%, and has recently traded below its 50-day moving average. Insiders sold 222,540 shares worth approximately $7.2 million over the past 90 days.

Invesco (NYSE:IVZ - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

Several other research analysts also recently weighed in on the stock. 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 report on Friday, September 25th. Jefferies Financial Group raised shares of Invesco to a "hold" rating in a report on Tuesday, June 30th. Barclays lifted their price objective on shares of Invesco from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted 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. Finally, Royal Bank Of Canada boosted their target price on shares of Invesco from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.12.

Invesco Stock Down 2.1%

Invesco stock opened at $28.19 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. Invesco has a 12 month low of $20.67 and a 12 month high of $33.66. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of -41.46, a PEG ratio of 0.45 and a beta of 1.65. The stock has a fifty day simple moving average of $31.25 and a two-hundred day simple moving average of $28.70.

Invesco (NYSE:IVZ - Get Free Report) last issued its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. Invesco's revenue was up 20.5% on a year-over-year basis. Equities analysts predict that Invesco will post 2.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Phoebe Wood sold 3,000 shares of Invesco stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $32.44, for a total value of $97,320.00. Following the completion of the transaction, the director owned 107,111 shares in the company, valued at approximately $3,474,680.84. The trade was a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Butcher sold 45,095 shares of the business's stock in a transaction that occurred on 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 directly owned 10,205 shares in the company, valued at approximately $329,417.40. This represents a 81.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,540 shares of company stock worth $7,227,167 in the last 90 days. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IVZ. Dimensional Fund Advisors LP increased its position in shares of Invesco by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager's stock worth $518,836,000 after purchasing an additional 596,434 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Invesco by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager's stock worth $83,356,000 after purchasing an additional 182,060 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Invesco by 28.9% in the 1st quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager's stock worth $64,473,000 after purchasing an additional 595,797 shares in the last quarter. Quantinno Capital Management LP grew its stake in Invesco by 24.1% during the 1st quarter. Quantinno Capital Management LP now owns 1,574,728 shares of the asset manager's stock worth $38,250,000 after buying an additional 306,213 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Invesco by 19.9% during the 1st quarter. Sei Investments Co. now owns 1,396,191 shares of the asset manager's stock worth $35,681,000 after buying an additional 231,926 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

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.

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