JPMorgan Chase & Co. Increases Invesco (NYSE:IVZ) Price Target to $20.00

Invesco (NYSE:IVZ) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $17.00 to $20.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 10.86% from the company’s current price.

Several other brokerages have also recently commented on IVZ. Wells Fargo & Company upped their target price on Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their target price on shares of Invesco from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Barclays started coverage on Invesco in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price objective for the company. Morgan Stanley boosted 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. Finally, StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Invesco presently has an average rating of “Hold” and an average price target of $17.88.

Invesco Stock Performance

Invesco stock opened at $18.04 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.80 and a quick ratio of 5.80. Invesco has a 1 year low of $12.48 and a 1 year high of $18.79. The business has a 50 day moving average of $17.07 and a 200-day moving average of $16.08. The company has a market capitalization of $8.11 billion, a P/E ratio of -24.05, a P/E/G ratio of 1.10 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its 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. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. On average, equities research analysts predict that Invesco will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IVZ. ARGA Investment Management LP raised its position in Invesco by 1.0% in the 1st quarter. ARGA Investment Management LP now owns 108,269 shares of the asset manager’s stock valued at $1,796,000 after buying an additional 1,105 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Invesco by 9.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 38,284 shares of the asset manager’s stock valued at $635,000 after purchasing an additional 3,327 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Invesco by 53.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 54,426 shares of the asset manager’s stock valued at $903,000 after purchasing an additional 18,942 shares in the last quarter. Aviance Capital Partners LLC boosted its holdings in Invesco by 2.9% during the first quarter. Aviance Capital Partners LLC now owns 64,931 shares of the asset manager’s stock worth $1,077,000 after purchasing an additional 1,829 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Invesco in the first quarter valued at approximately $169,000. Institutional investors own 66.09% of the company’s stock.

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.