Invesco (IVZ) PT Set at $47.00 by Royal Bank of Canada

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.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.05. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The firm had revenue of $976.60 million during the quarter, compared to analysts’ expectations of $940.96 million. During the same quarter in the prior year, the business earned $0.60 EPS. Invesco’s quarterly revenue was up 14.3% compared to the same quarter last year. analysts forecast that Invesco will post 2.66 earnings per share for the current year.

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.

Analyst Recommendations for Invesco (NYSE:IVZ)

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