Invesco (NYSE:IVZ) Now Covered by Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Invesco (NYSE:IVZ) in a note issued to investors on Tuesday. The brokerage set a “sector perform” rating and a $19.00 price target on the asset manager’s stock. Royal Bank of Canada’s price target indicates a potential downside of 1.85% from the stock’s previous close.

Several other research analysts have also issued reports on IVZ. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods cut their price target on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on shares of Invesco from $19.25 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company cut their target price on shares of Invesco from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their price target on Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Invesco has a consensus rating of “Hold” and an average target price of $18.50.

Invesco Stock Performance

Invesco stock traded up $1.61 on Tuesday, hitting $19.36. The company’s stock had a trading volume of 3,510,283 shares, compared to its average volume of 3,471,694. The company has a fifty day moving average price of $17.60 and a 200-day moving average price of $17.25. The firm has a market cap of $8.70 billion, a P/E ratio of -21.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. Invesco has a one year low of $14.16 and a one year high of $19.20. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. On average, equities analysts anticipate that Invesco will post 1.7 earnings per share for the current year.

Institutional Trading of Invesco

Several institutional investors and hedge funds have recently made changes to their positions in IVZ. Fisher Asset Management LLC increased its stake in Invesco by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after purchasing an additional 87,405 shares in the last quarter. Massachusetts Mutual Life Insurance Co. bought a new stake in shares of Invesco in the 3rd quarter valued at $1,428,196,000. Algert Global LLC acquired a new stake in Invesco during the 2nd quarter worth $551,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Invesco by 1.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock worth $1,378,000 after acquiring an additional 1,020 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Invesco in the third quarter valued at about $853,000. Institutional investors 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.