Invesco (NYSE:IVZ) Downgraded to Neutral at Bank of America

Invesco (NYSE:IVZ) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a report issued on Monday, January 8th, MarketBeat Ratings reports. They presently have a $42.00 price target on the asset manager’s stock. Bank of America’s price objective would suggest a potential upside of 10.94% from the stock’s previous close.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. set a $45.00 price objective on Invesco and gave the company a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research upgraded Invesco from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Wednesday, January 3rd. Morgan Stanley lowered Invesco from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $40.00 to $39.00 in a research report on Wednesday, January 3rd. Royal Bank of Canada set a $47.00 price target on Invesco and gave the stock a “buy” rating in a research report on Saturday, December 16th. Finally, ValuEngine upgraded Invesco from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $39.79.

Shares of Invesco (IVZ) opened at $37.86 on Monday. The company has a market capitalization of $15,411.97, a P/E ratio of 16.46, a P/E/G ratio of 1.03 and a beta of 1.81. Invesco has a 12-month low of $28.75 and a 12-month high of $37.88. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.05. The firm had revenue of $976.60 million for the quarter, compared to analyst estimates of $940.96 million. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. analysts anticipate that Invesco will post 2.67 earnings per share for the current year.

In related news, insider Colin Meadows sold 54,215 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total transaction of $1,952,282.15. Following the sale, the insider now owns 164,420 shares of the company’s stock, valued at approximately $5,920,764.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Flinton Capital Management LLC raised its stake in shares of Invesco by 0.8% in the 2nd quarter. Flinton Capital Management LLC now owns 10,368 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 80 shares during the period. Riverhead Capital Management LLC raised its stake in shares of Invesco by 1.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 11,593 shares of the asset manager’s stock valued at $408,000 after purchasing an additional 144 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of Invesco by 0.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 61,079 shares of the asset manager’s stock valued at $2,149,000 after purchasing an additional 202 shares during the period. Veritable L.P. raised its stake in shares of Invesco by 1.9% in the 2nd quarter. Veritable L.P. now owns 11,997 shares of the asset manager’s stock valued at $422,000 after purchasing an additional 219 shares during the period. Finally, Sentry Investment Management LLC raised its stake in shares of Invesco by 0.9% in the 2nd quarter. Sentry Investment Management LLC now owns 25,726 shares of the asset manager’s stock valued at $905,000 after purchasing an additional 229 shares during the period. 81.31% of the stock is currently owned by institutional investors and hedge funds.

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Invesco Company Profile

Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.

Analyst Recommendations for Invesco (NYSE:IVZ)

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