JPMorgan Chase & Co. Cuts Invesco (NYSE:IVZ) Price Target to $16.50

Invesco (NYSE:IVZ) had its target price lowered by research analysts at JPMorgan Chase & Co. from $17.00 to $16.50 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.95% from the company’s previous close.

Several other equities analysts have also issued reports on the company. TD Cowen initiated coverage on Invesco in a report on Thursday, January 4th. They set an “outperform” rating and a $21.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on Invesco from $18.00 to $17.75 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Keefe, Bruyette & Woods dropped their price objective on Invesco from $21.00 to $19.50 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Finally, UBS Group lowered their price target on Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.25.

Invesco Stock Down 2.4 %

Invesco stock traded down $0.35 during midday trading on Wednesday, reaching $14.23. The company’s stock had a trading volume of 3,184,688 shares, compared to its average volume of 4,674,117. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.71. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.39 billion, a P/E ratio of -19.34, a P/E/G ratio of 1.03 and a beta of 1.44. The business has a 50-day simple moving average of $15.75 and a 200-day simple moving average of $15.45.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.08 billion. Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, research analysts expect that Invesco will post 1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP raised its position in shares of Invesco by 276.8% during the 3rd quarter. Quantbot Technologies LP now owns 81,754 shares of the asset manager’s stock worth $1,187,000 after purchasing an additional 60,057 shares during the last quarter. Oak Thistle LLC acquired a new position in Invesco in the 4th quarter valued at $1,166,000. Northern Trust Corp grew its stake in shares of Invesco by 30.7% during the 3rd quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock valued at $86,306,000 after buying an additional 1,395,023 shares during the period. Raymond James & Associates grew its stake in shares of Invesco by 4.5% during the 3rd quarter. Raymond James & Associates now owns 65,917 shares of the asset manager’s stock valued at $957,000 after buying an additional 2,846 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of Invesco by 99.6% during the 3rd quarter. Hsbc Holdings PLC now owns 749,137 shares of the asset manager’s stock valued at $10,912,000 after buying an additional 373,778 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.