Invesco (NYSE:IVZ) Stock Price Down 7.8% - Here's Why

Key Points

• Invesco Ltd.'s stock fell by 7.8% during trading, reaching a low of $22.93 and closing at $20.90, with trading volume down by 54% from the average.
• Analysts remain optimistic, with Cowen giving Invesco a "buy" rating and Barclays and Citigroup raising their price targets to $24.00 and $25.00, respectively.
• Invesco reported a quarterly EPS of $0.36, missing estimates, although revenue of $1.10 billion exceeded expectations by $0.01 billion.

Invesco Ltd. (NYSE:IVZ - Get Free Report)'s share price was down 7.8% during trading on Friday . The company traded as low as $22.93 and last traded at $20.90. Approximately 2,414,122 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 5,296,227 shares. The stock had previously closed at $22.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IVZ shares. Cowen reissued a "buy" rating on shares of Invesco in a report on Thursday, September 18th. Barclays raised their price target on Invesco from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday. Citigroup raised their price target on Invesco from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Monday, September 29th. Morgan Stanley reissued a "positive" rating on shares of Invesco in a report on Monday, October 6th. Finally, Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $14.50 to $18.00 in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $21.85.

Invesco Trading Up 0.9%

The company has a market cap of $10.21 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 0.81 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 company has a 50-day moving average of $22.45 and a 200 day moving average of $18.28.

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

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the completion of the transaction, the director owned 29,855 shares in the company, valued at $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.21% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jump Financial LLC boosted 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 valued at $3,508,000 after buying an additional 53,608 shares during the period. New York State Teachers Retirement System boosted 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 valued at $6,148,000 after buying an additional 31,643 shares during the period. Principal Financial Group Inc. boosted its position in shares of Invesco by 177.3% during the first 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 period. Nisa Investment Advisors LLC boosted its position in shares of Invesco by 25.7% during the first 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 period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Invesco by 24.0% during the first 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 period. Hedge funds and other institutional investors own 66.09% of the company's stock.

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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