Invesco (NYSE:IVZ) Upgraded to "Equal Weight" at Wells Fargo & Company

Invesco (NYSE:IVZ - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a report issued on Friday, MarketBeat reports. The brokerage presently has a $18.00 price objective on the asset manager's stock, up from their prior price objective of $14.50. Wells Fargo & Company's target price suggests a potential upside of 3.15% from the company's previous close.

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

Invesco Price Performance

NYSE:IVZ traded up $0.05 on Friday, reaching $17.45. The stock had a trading volume of 4,646,776 shares, compared to its average volume of 4,471,212. The company has a market capitalization of $7.81 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.60 and a beta of 1.48. Invesco has a 1-year low of $11.60 and a 1-year high of $19.55. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average price of $15.21 and a 200-day moving average price of $15.81.

Invesco (NYSE:IVZ - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business earned $0.33 earnings per share. Research analysts forecast that Invesco will post 1.87 EPS for the current year.

Institutional Investors Weigh In On Invesco

Several large investors have recently made changes to their positions in IVZ. Goldman Sachs Group Inc. increased its position in shares of Invesco by 99.6% during the first quarter. Goldman Sachs Group Inc. now owns 7,026,920 shares of the asset manager's stock worth $106,598,000 after acquiring an additional 3,507,150 shares in the last quarter. Norges Bank bought a new stake in shares of Invesco during the fourth quarter worth $57,459,000. AQR Capital Management LLC increased its position in shares of Invesco by 35.4% during the first quarter. AQR Capital Management LLC now owns 11,028,524 shares of the asset manager's stock worth $165,262,000 after acquiring an additional 2,882,928 shares in the last quarter. Nuveen LLC bought a new stake in shares of Invesco during the first quarter worth $29,138,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in 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 worth $29,301,000 after purchasing an additional 1,642,645 shares during the last quarter. 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.