Invesco (NYSE:IVZ) has been assigned a $47.00 price objective by investment analysts at Royal Bank of Canada in a report released on Saturday. The firm currently has a “buy” rating on the asset manager’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 28.56% from the stock’s current price.
Several other research firms have also recently commented on IVZ. ValuEngine upgraded shares of Invesco from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. UBS raised their target price on shares of Invesco from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Invesco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, October 11th. Wells Fargo & Company raised their target price on shares of Invesco from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 target price on shares of Invesco in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $39.00.
Shares of Invesco (IVZ) opened at $36.56 on Friday. The firm has a market cap of $14,882.77, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.15 and a beta of 1.81. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. Invesco has a 52 week low of $28.75 and a 52 week high of $37.85.
In other news, insider Colin Meadows sold 54,215 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total value of $1,952,282.15. Following the completion of the transaction, the insider now owns 164,420 shares in the company, valued at approximately $5,920,764.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.
A number of large investors have recently bought and sold shares of IVZ. Russell Investments Group Ltd. increased its holdings in Invesco by 9.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 96,328 shares of the asset manager’s stock valued at $3,390,000 after acquiring an additional 8,100 shares in the last quarter. Beach Investment Management LLC. purchased a new position in Invesco during the 2nd quarter valued at about $1,390,000. Global X Management Co. LLC increased its holdings in Invesco by 14.6% during the 2nd quarter. Global X Management Co. LLC now owns 6,397 shares of the asset manager’s stock valued at $225,000 after acquiring an additional 815 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Invesco by 7.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,344,769 shares of the asset manager’s stock valued at $47,323,000 after acquiring an additional 87,755 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Invesco by 11.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 60,198 shares of the asset manager’s stock valued at $2,211,000 after acquiring an additional 6,162 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.
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Invesco Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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