The Goldman Sachs Group Trims Invesco (NYSE:IVZ) Target Price to $17.00

Invesco (NYSE:IVZ) had its price objective cut by investment analysts at The Goldman Sachs Group from $17.50 to $17.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 12.92% from the stock’s current price.

A number of other analysts have also recently weighed in on IVZ. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. JPMorgan Chase & Co. decreased their price objective on Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. BMO Capital Markets reissued a “market perform” rating and set a $17.00 target price (down from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $17.00 target price (down from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. Finally, Morgan Stanley increased their target price on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Invesco has a consensus rating of “Hold” and an average target price of $16.81.

Invesco Stock Up 0.4 %

Shares of NYSE IVZ opened at $15.06 on Tuesday. The stock has a market cap of $6.77 billion, a PE ratio of -20.07, a price-to-earnings-growth ratio of 1.13 and a beta of 1.47. The company has a quick ratio of 6.89, a current ratio of 6.89 and a debt-to-equity ratio of 0.77. Invesco has a 52-week low of $12.48 and a 52-week high of $18.71. The business has a 50-day moving average price of $15.19 and a 200 day moving average price of $15.89.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. Equities research analysts forecast that Invesco will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On Invesco

Hedge funds have recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in Invesco during the third quarter worth $25,000. Gables Capital Management Inc. boosted its holdings in shares of Invesco by 74.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after purchasing an additional 700 shares during the last quarter. Pinnacle Bancorp Inc. boosted its holdings in shares of Invesco by 100.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after purchasing an additional 1,000 shares during the last quarter. Quarry LP acquired a new stake in shares of Invesco during the fourth quarter worth $37,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Invesco by 182.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock worth $44,000 after purchasing an additional 1,589 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

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.