Bank of America Has Lowered Expectations for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price target lowered by analysts at Bank of America from $19.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Bank of America‘s price target suggests a potential upside of 40.81% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Royal Bank of Canada began coverage on Invesco in a report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 price objective on the stock. Argus raised their target price on Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $20.00 price target (up from $18.00) on shares of Invesco in a research note on Wednesday, January 29th. Finally, Citigroup reduced their price objective on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.30.

Invesco Price Performance

Shares of NYSE IVZ opened at $12.78 on Thursday. The stock has a fifty day moving average price of $16.85 and a 200 day moving average price of $17.36. Invesco has a 1-year low of $12.35 and a 1-year high of $19.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. The company has a market cap of $5.72 billion, a PE ratio of 10.83, a P/E/G ratio of 0.98 and a beta of 1.26.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. Sell-side analysts forecast that Invesco will post 1.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco during the third quarter worth about $35,000. Colonial Trust Co SC purchased a new stake in Invesco in the 4th quarter worth approximately $38,000. Aster Capital Management DIFC Ltd raised its holdings in Invesco by 180.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 1,531 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Invesco during the 4th quarter worth $44,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Invesco during the fourth quarter worth $52,000. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.