Invesco (IVZ) Shares Down 5.1% After Analyst Downgrade

Invesco Ltd. (NYSE:IVZ) fell 5.1% during mid-day trading on Thursday after Deutsche Bank lowered their price target on the stock from $30.00 to $27.00. Deutsche Bank currently has a buy rating on the stock. Invesco traded as low as $20.02 and last traded at $20.07. 11,476,202 shares traded hands during trading, an increase of 193% from the average session volume of 3,914,834 shares. The stock had previously closed at $21.14.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley dropped their target price on shares of Invesco from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday. UBS Group dropped their target price on shares of Invesco from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, October 8th. Zacks Investment Research raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Monday, September 24th. JPMorgan Chase & Co. set a $29.00 target price on shares of Invesco and gave the stock a “buy” rating in a report on Monday, September 24th. Finally, Credit Suisse Group dropped their target price on shares of Invesco from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.92.

Hedge funds have recently made changes to their positions in the business. Sun Life Financial INC boosted its stake in Invesco by 3,034.1% during the second quarter. Sun Life Financial INC now owns 4,137 shares of the asset manager’s stock worth $110,000 after buying an additional 4,005 shares during the period. First Interstate Bank boosted its stake in Invesco by 89.2% during the second quarter. First Interstate Bank now owns 4,500 shares of the asset manager’s stock worth $120,000 after buying an additional 2,122 shares during the period. Bessemer Group Inc. boosted its stake in Invesco by 51.4% during the second quarter. Bessemer Group Inc. now owns 6,706 shares of the asset manager’s stock worth $178,000 after buying an additional 2,277 shares during the period. Private Capital Group LLC boosted its stake in Invesco by 134.0% during the second quarter. Private Capital Group LLC now owns 7,080 shares of the asset manager’s stock worth $188,000 after buying an additional 4,055 shares during the period. Finally, Cozad Asset Management Inc. purchased a new position in Invesco during the second quarter worth about $210,000. 78.80% of the stock is owned by institutional investors.

The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 0.94 and a beta of 1.65.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Thursday, July 26th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The business had revenue of $974.00 million for the quarter, compared to analysts’ expectations of $960.91 million. Invesco had a net margin of 21.64% and a return on equity of 12.70%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, analysts predict that Invesco Ltd. will post 2.71 earnings per share for the current fiscal year.

About Invesco (NYSE:IVZ)

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.

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