Bank of America Boosts Invesco (NYSE:IVZ) Price Target to $25.00

Key Points

• Bank of America has increased its price target for Invesco's stock from $23.00 to $25.00, indicating a potential upside of 5.15% from the current stock price.
• The average rating for Invesco is currently a "Hold", with a consensus price target of $20.45 based on reports from various analysts.
• Invesco's stock recently traded up 3.0%, reaching $23.78, amidst significant trading volume of over 2.2 million shares.

Invesco (NYSE:IVZ - Get Free Report) had its price target hoisted by stock analysts at Bank of America from $23.00 to $25.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the asset manager's stock. Bank of America's price target suggests a potential upside of 5.15% from the company's current price.

Several other analysts have also recently issued reports on IVZ. Royal Bank Of Canada reissued a "sector perform" rating and set a $16.00 price target (up previously from $14.00) on shares of Invesco in a research report on Thursday, July 10th. Barclays raised their target price on shares of Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Evercore ISI reaffirmed a "positive" rating on shares of Invesco in a report on Friday, September 5th. Wells Fargo & Company raised shares of Invesco from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $14.50 to $18.00 in a report on Friday, July 11th. Finally, Citigroup raised their target price on shares of Invesco from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.45.

Invesco Stock Up 3.0%

Shares of IVZ traded up $0.69 during mid-day trading on Thursday, hitting $23.78. 2,234,945 shares of the company's stock were exchanged, compared to its average volume of 5,379,720. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 1.30 and a beta of 1.66. Invesco has a fifty-two week low of $11.60 and a fifty-two week high of $23.75. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30. The stock's 50-day moving average is $21.75 and its 200-day moving average is $17.37.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a return on equity of 8.60% and a net margin of 10.68%.The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. On average, sell-side analysts anticipate that Invesco will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $22.12, for a total value of $2,282,607.04. Following the transaction, the director directly owned 29,855 shares in the company, valued at $660,392.60. This represents a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Invesco

Hedge funds have recently modified their holdings of the business. Jump Financial LLC grew its position in shares of Invesco by 30.2% during the first quarter. Jump Financial LLC now owns 231,218 shares of the asset manager's stock worth $3,508,000 after acquiring an additional 53,608 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Invesco by 8.5% during the first quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock worth $6,148,000 after acquiring an additional 31,643 shares during the last quarter. Principal Financial Group Inc. grew its position in Invesco by 177.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock valued at $21,213,000 after buying an additional 894,105 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Invesco by 25.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock valued at $3,021,000 after buying an additional 40,665 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Invesco by 24.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock valued at $296,000 after buying an additional 3,778 shares during the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.

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