Invesco (NYSE:IVZ) was upgraded by research analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has a $38.00 price objective on the asset manager’s stock, down from their previous price objective of $39.00. Deutsche Bank’s price objective indicates a potential upside of 14.56% from the company’s previous close.
IVZ has been the topic of a number of other research reports. Royal Bank of Canada set a $47.00 target price on shares of Invesco and gave the company a “buy” rating in a research report on Saturday, December 16th. ValuEngine upgraded shares of Invesco from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Morgan Stanley lowered shares of Invesco from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $40.00 to $39.00 in a research report on Wednesday, January 3rd. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Citigroup lowered shares of Invesco from a “buy” rating to a “neutral” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Invesco currently has an average rating of “Buy” and a consensus target price of $40.57.
Shares of Invesco (IVZ) opened at $33.17 on Tuesday. Invesco has a 52-week low of $29.36 and a 52-week high of $38.43. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $13,160.00, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.87 and a beta of 1.73.
Several hedge funds have recently added to or reduced their stakes in IVZ. Amundi Pioneer Asset Management Inc. raised its stake in Invesco by 144.5% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 5,097,202 shares of the asset manager’s stock worth $178,605,000 after buying an additional 3,012,871 shares during the last quarter. Capital International Investors raised its stake in Invesco by 9.2% during the third quarter. Capital International Investors now owns 13,917,400 shares of the asset manager’s stock worth $487,666,000 after buying an additional 1,169,200 shares during the last quarter. Renaissance Technologies LLC raised its stake in Invesco by 210.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,713,900 shares of the asset manager’s stock worth $62,626,000 after buying an additional 1,162,175 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Invesco by 19.2% during the third quarter. Ameriprise Financial Inc. now owns 4,997,691 shares of the asset manager’s stock worth $175,007,000 after buying an additional 804,250 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Invesco by 94.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,528,535 shares of the asset manager’s stock worth $55,853,000 after buying an additional 741,386 shares during the last quarter. 80.36% of the stock is owned by hedge funds and other institutional investors.
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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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