Invesco (NYSE:IVZ) Now Covered by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets has initiated coverage on Invesco (NYSE:IVZ), giving it an "outperform" rating with a price target of $28.00, suggesting an upside potential of 18.62%.
• Invesco's latest quarterly earnings showed a miss in earnings per share at $0.36, below the expected $0.41, although revenues exceeded expectations at $1.10 billion.
• Insider activity included Director Stephanie Butcher selling 103,192 shares at an average price of $22.12, significantly reducing her ownership in the company.

Equities research analysts at BMO Capital Markets initiated coverage on shares of Invesco (NYSE:IVZ - Get Free Report) in a research report issued to clients and investors on Friday,Benzinga reports. The firm set an "outperform" rating and a $28.00 price target on the asset manager's stock. BMO Capital Markets' price target indicates a potential upside of 18.62% from the stock's current price.

Several other equities research analysts have also issued reports on IVZ. Wells Fargo & Company upgraded shares of Invesco from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $14.50 to $18.00 in a report on Friday, July 11th. Barclays boosted their target price on Invesco from $17.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Cowen reiterated a "buy" rating on shares of Invesco in a report on Thursday, September 18th. Zacks Research raised Invesco to a "hold" rating in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group upped their price objective on Invesco from $16.25 to $16.75 and gave the company a "neutral" rating in a research report on Friday, June 27th. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $20.92.

Invesco Price Performance

NYSE:IVZ opened at $23.61 on Friday. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.30 and a beta of 1.66. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.30. The business has a 50 day simple moving average of $21.79 and a 200-day simple moving average of $17.42. Invesco has a 1 year low of $11.60 and a 1 year high of $23.83.

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

Insider Transactions at Invesco

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly owned 29,855 shares in the company, valued at approximately $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IVZ. State Street Corp lifted its position in Invesco by 1.5% during the second quarter. State Street Corp now owns 22,260,704 shares of the asset manager's stock valued at $351,051,000 after acquiring an additional 332,340 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Invesco by 5.3% during the second quarter. AQR Capital Management LLC now owns 11,612,559 shares of the asset manager's stock worth $182,491,000 after purchasing an additional 584,035 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Invesco by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 11,107,421 shares of the asset manager's stock valued at $174,816,000 after purchasing an additional 88,094 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Invesco by 13.4% during the 2nd quarter. Alliancebernstein L.P. now owns 7,924,717 shares of the asset manager's stock valued at $124,973,000 after purchasing an additional 939,365 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Invesco by 11.3% in the 1st quarter. Northern Trust Corp now owns 7,083,410 shares of the asset manager's stock worth $107,455,000 after purchasing an additional 721,947 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company's stock.

About Invesco

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.