The Goldman Sachs Group Raises Invesco (NYSE:IVZ) Price Target to $16.75

Invesco (NYSE:IVZ - Get Free Report) had its price objective increased by research analysts at The Goldman Sachs Group from $16.25 to $16.75 in a report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the asset manager's stock. The Goldman Sachs Group's price target points to a potential upside of 6.01% from the company's previous close.

A number of other brokerages have also recently issued reports on IVZ. TD Cowen cut Invesco from a "buy" rating to a "hold" rating and cut their price objective for the company from $22.00 to $13.00 in a report on Wednesday, April 9th. Morgan Stanley dropped their target price on shares of Invesco from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company reduced their price target on shares of Invesco from $19.50 to $14.50 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Bank of America dropped their price objective on shares of Invesco from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Evercore ISI lifted their target price on shares of Invesco from $13.00 to $15.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Invesco currently has an average rating of "Hold" and an average price target of $17.42.

Invesco Price Performance

Shares of Invesco stock traded up $0.10 during trading on Friday, hitting $15.80. 3,578,105 shares of the company's stock traded hands, compared to its average volume of 4,419,991. The company has a market cap of $7.07 billion, a PE ratio of 12.64, a PEG ratio of 1.84 and a beta of 1.49. The firm's fifty day moving average price is $14.61 and its 200 day moving average price is $15.84. Invesco has a twelve month low of $11.60 and a twelve month high of $19.55. 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 (NYSE:IVZ - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a return on equity of 8.94% and a net margin of 13.14%. During the same period in the prior year, the company posted $0.33 EPS. Analysts forecast that Invesco will post 1.87 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in Invesco by 99.6% in 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 period. Norges Bank acquired a new position in shares of Invesco in the 4th quarter valued at $57,459,000. AQR Capital Management LLC lifted its stake in shares of Invesco by 35.4% in 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 during the period. Nuveen LLC bought a new position in shares of Invesco in the 1st quarter worth $29,138,000. Finally, CIBC Private Wealth Group LLC grew its stake 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 worth $29,301,000 after purchasing an additional 1,642,645 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.