Royal Bank Of Canada Reaffirms Sector Perform Rating for Invesco (NYSE:IVZ)

Invesco (NYSE:IVZ - Get Free Report)'s stock had its "sector perform" rating reissued by Royal Bank Of Canada in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $16.00 price target on the asset manager's stock, up from their prior price target of $14.00. Royal Bank Of Canada's target price would suggest a potential downside of 7.81% from the company's current price.

Other equities research analysts have also issued research reports about the company. Barclays lifted their price target on Invesco from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Monday, June 9th. Evercore ISI boosted their target price on Invesco from $13.00 to $15.00 and gave the stock an "in-line" rating in a research report on Wednesday, April 23rd. TD Cowen lowered Invesco from a "buy" rating to a "hold" rating and cut their target price for the stock from $22.00 to $13.00 in a research note on Wednesday, April 9th. The Goldman Sachs Group lifted their price target on shares of Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Invesco from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Invesco presently has an average rating of "Hold" and a consensus price target of $17.52.

Invesco Trading Down 0.4%

Shares of Invesco stock opened at $17.36 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.37 and a quick ratio of 1.37. Invesco has a 1 year low of $11.60 and a 1 year high of $19.55. The firm has a market cap of $7.77 billion, a PE ratio of 13.88, a PEG ratio of 1.55 and a beta of 1.48. The company has a 50 day simple moving average of $15.21 and a two-hundred day simple moving average of $15.78.

Invesco (NYSE:IVZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. Invesco had a net margin of 13.14% and a return on equity of 8.94%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.33 EPS. Analysts expect that Invesco will post 1.87 earnings per share for the current fiscal year.

Institutional Trading of Invesco

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in Invesco by 99.6% during the first quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager's stock valued at $106,598,000 after buying an additional 3,507,150 shares during the last quarter. Norges Bank purchased a new stake in Invesco during the 4th quarter valued at about $57,459,000. AQR Capital Management LLC increased its stake in Invesco by 35.4% during the 1st quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager's stock valued at $165,262,000 after purchasing an additional 2,882,928 shares in the last quarter. Nuveen LLC purchased a new position in Invesco in the first quarter worth about $29,138,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Invesco by 2,385.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager's stock valued at $29,301,000 after buying an additional 1,642,645 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

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.