Invesco (NYSE:IVZ) Given New $16.50 Price Target at Wells Fargo & Company

Invesco (NYSE:IVZ) had its price objective hoisted by stock analysts at Wells Fargo & Company from $16.00 to $16.50 in a report released on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 5.50% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Monday. Evercore ISI boosted their target price on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group dropped their price target on Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada raised their price objective on shares of Invesco from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.12.

Invesco Price Performance

Shares of IVZ traded up $0.10 during midday trading on Wednesday, reaching $17.46. The stock had a trading volume of 308,129 shares, compared to its average volume of 4,233,173. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.80 and a quick ratio of 5.80. The company has a market capitalization of $7.85 billion, a P/E ratio of -23.28, a P/E/G ratio of 1.18 and a beta of 1.44. The firm’s 50 day moving average price is $16.70 and its 200-day moving average price is $15.98. Invesco has a 52 week low of $12.48 and a 52 week high of $18.28.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business earned $0.31 earnings per share. Invesco’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts forecast that Invesco will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Invesco

Several institutional investors have recently made changes to their positions in IVZ. Family Firm Inc. bought a new position in Invesco during the second quarter valued at approximately $28,000. Sentry Investment Management LLC acquired a new position in shares of Invesco during the 2nd quarter worth $30,000. Quarry LP bought a new position in shares of Invesco during the 4th quarter valued at $37,000. Fidelis Capital Partners LLC acquired a new stake in shares of Invesco in the 1st quarter valued at $52,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after purchasing an additional 1,210 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

About Invesco

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.