Citigroup Downgrades Invesco (IVZ) to Neutral
Citigroup downgraded shares of Invesco (NYSE:IVZ) from a buy rating to a neutral rating in a research note released on Friday, The Fly reports.
Other research analysts also recently issued reports about the company. ValuEngine upgraded Invesco from a hold rating to a buy rating in a report on Monday, October 2nd. UBS Group increased their price objective on Invesco from $36.00 to $37.00 and gave the stock a neutral rating in a report on Monday, October 2nd. Royal Bank of Canada reiterated a buy rating and set a $41.00 price objective on shares of Invesco in a report on Friday, October 27th. Zacks Investment Research upgraded Invesco from a hold rating to a buy rating and set a $41.00 price objective for the company in a report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. set a $45.00 price objective on Invesco and gave the stock a buy rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $39.79.
Invesco (NYSE:IVZ) traded up $0.27 during trading hours on Friday, hitting $38.13. The company had a trading volume of 2,457,584 shares, compared to its average volume of 2,119,366. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $15,411.97, a P/E ratio of 16.58, a PEG ratio of 1.03 and a beta of 1.81. Invesco has a fifty-two week low of $28.75 and a fifty-two week high of $38.42.
In other Invesco news, insider Colin Meadows sold 54,215 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total value of $1,952,282.15. Following the completion of the transaction, the insider now directly owns 164,420 shares in the company, valued at $5,920,764.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Sun Life Financial INC bought a new position in Invesco in the third quarter valued at approximately $145,000. Valeo Financial Advisors LLC bought a new position in Invesco in the third quarter valued at approximately $160,000. C M Bidwell & Associates Ltd. bought a new position in Invesco in the second quarter valued at approximately $185,000. ETRADE Capital Management LLC bought a new position in Invesco in the third quarter valued at approximately $205,000. Finally, Bluefin Trading LLC bought a new position in Invesco in the second quarter valued at approximately $216,000. Hedge funds and other institutional investors own 81.31% of the company’s stock.
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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.
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