Invesco (NYSE:IVZ) Downgraded by StockNews.com to “Sell”

Invesco (NYSE:IVZ) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $17.00 target price (down from $19.00) on shares of Invesco in a report on Wednesday, April 24th. Morgan Stanley upped their target price on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. BMO Capital Markets reaffirmed a “market perform” rating and set a $17.00 target price (down from $18.00) on shares of Invesco in a report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price objective on Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group reduced their price objective on Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.81.

Invesco Price Performance

IVZ stock traded up $0.22 during trading hours on Thursday, hitting $15.99. 3,864,894 shares of the stock traded hands, compared to its average volume of 4,436,954. The stock has a 50-day simple moving average of $15.30 and a 200 day simple moving average of $15.81. Invesco has a one year low of $12.48 and a one year high of $18.71. The company has a market cap of $7.19 billion, a P/E ratio of -21.32, a P/E/G ratio of 1.13 and a beta of 1.47. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.77.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IVZ. Point72 Asset Management L.P. increased its holdings in shares of Invesco by 1,411.1% during the 4th quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock valued at $67,016,000 after acquiring an additional 3,507,900 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Invesco in the 4th quarter valued at approximately $61,795,000. Norges Bank acquired a new stake in Invesco in the 4th quarter valued at approximately $59,713,000. Dimensional Fund Advisors LP grew its holdings in Invesco by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock valued at $246,163,000 after buying an additional 2,592,039 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Invesco in the 1st quarter valued at approximately $41,475,000. Institutional investors and hedge funds 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.