Royal Bank of Canada Increases Invesco (NYSE:IVZ) Price Target to $19.00

Invesco (NYSE:IVZ) had its price target upped by equities researchers at Royal Bank of Canada from $18.00 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the asset manager’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 7.83% from the stock’s previous close.

Several other analysts also recently commented on IVZ. Deutsche Bank Aktiengesellschaft raised their target price on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley raised their price objective on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. UBS Group increased their target price on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, The Goldman Sachs Group boosted their price target on shares of Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.38.

Invesco Price Performance

Shares of IVZ opened at $17.62 on Wednesday. The firm has a market cap of $7.93 billion, a PE ratio of -23.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. Invesco has a 52-week low of $12.48 and a 52-week high of $18.79. The business’s 50 day moving average price is $17.14 and its two-hundred day moving average price is $16.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. Invesco’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. On average, equities analysts anticipate that Invesco will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Invesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Invesco by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 18,084,231 shares of the asset manager’s stock valued at $270,540,000 after acquiring an additional 3,349,069 shares in the last quarter. Swedbank AB purchased a new stake in shares of Invesco during the 1st quarter valued at $41,475,000. Bank of New York Mellon Corp increased its position in shares of Invesco by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager’s stock valued at $37,241,000 after purchasing an additional 30,016 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Invesco by 19.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,364,232 shares of the asset manager’s stock worth $35,274,000 after purchasing an additional 377,786 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Invesco by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after buying an additional 58,332 shares during the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

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.