The Goldman Sachs Group Issues Pessimistic Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price target dropped by research analysts at The Goldman Sachs Group from $19.25 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 10.98% from the stock’s previous close.

Other research analysts also recently issued reports about the company. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their target price on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Evercore ISI increased their price target on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Barclays boosted their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.83.

Invesco Price Performance

NYSE IVZ opened at $17.12 on Tuesday. The firm’s 50 day moving average is $17.78 and its 200-day moving average is $17.05. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7.69 billion, a PE ratio of -18.61, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. Invesco has a 12-month low of $14.16 and a 12-month high of $18.94.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The company’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Equities research analysts anticipate that Invesco will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Invesco

Several institutional investors have recently added to or reduced their stakes in the company. Harmony Asset Management LLC lifted its holdings in shares of Invesco by 1.0% during the third quarter. Harmony Asset Management LLC now owns 61,400 shares of the asset manager’s stock worth $1,078,000 after buying an additional 600 shares in the last quarter. Centennial Wealth Advisory LLC increased its position in Invesco by 4.5% during the third quarter. Centennial Wealth Advisory LLC now owns 19,095 shares of the asset manager’s stock worth $335,000 after acquiring an additional 816 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Invesco by 1.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock worth $1,001,000 after purchasing an additional 946 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Invesco by 1.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock valued at $1,378,000 after purchasing an additional 1,020 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Invesco by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,149 shares of the asset manager’s stock worth $248,000 after purchasing an additional 1,167 shares in the last quarter. 66.09% of the stock is currently owned by 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.