Shares of Invesco Ltd. (NYSE:IVZ) have received an average rating of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $23.22.
Several equities analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Invesco from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, October 8th. Deutsche Bank lifted their target price on shares of Invesco from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. JPMorgan Chase & Co. set a $29.00 target price on shares of Invesco and gave the stock a “buy” rating in a report on Monday, September 24th. Zacks Investment Research upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $27.00 price target (down from $34.00) on shares of Invesco in a research report on Friday, October 19th.
Several hedge funds and other institutional investors have recently modified their holdings of IVZ. State of Alaska Department of Revenue increased its stake in Invesco by 28.9% during the fourth quarter. State of Alaska Department of Revenue now owns 96,479 shares of the asset manager’s stock worth $1,613,000 after purchasing an additional 21,650 shares during the period. Cerebellum GP LLC acquired a new stake in Invesco during the 4th quarter valued at approximately $261,000. Retirement Systems of Alabama boosted its position in Invesco by 12.4% during the 4th quarter. Retirement Systems of Alabama now owns 1,322,957 shares of the asset manager’s stock valued at $22,146,000 after purchasing an additional 145,891 shares during the period. Standard Life Aberdeen plc raised its stake in shares of Invesco by 0.6% in the 3rd quarter. Standard Life Aberdeen plc now owns 208,784 shares of the asset manager’s stock worth $4,778,000 after buying an additional 1,220 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in Invesco by 1.2% in the third quarter. Vanguard Group Inc now owns 43,577,656 shares of the asset manager’s stock valued at $997,058,000 after purchasing an additional 524,580 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.
Invesco (NYSE:IVZ) last released its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $966.90 million for the quarter, compared to analyst estimates of $972.49 million. Invesco had a return on equity of 12.25% and a net margin of 21.66%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. Research analysts anticipate that Invesco will post 2.61 EPS for the current fiscal year.
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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