BMO Capital Markets Issues Positive Forecast for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price objective boosted by BMO Capital Markets from $28.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ price objective indicates a potential upside of 13.02% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Invesco in a research note on Monday. Royal Bank Of Canada boosted their target price on shares of Invesco from $23.00 to $25.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. Bank of America upped their target price on Invesco from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Wall Street Zen raised Invesco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Zacks Research downgraded Invesco from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Five research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Invesco presently has an average rating of “Hold” and an average target price of $23.77.

Invesco Stock Performance

IVZ opened at $26.55 on Wednesday. The firm’s 50-day moving average price is $23.74 and its 200-day moving average price is $20.70. The company has a market cap of $11.81 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 0.67 and a beta of 1.66. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.85. Invesco has a 52-week low of $11.60 and a 52-week high of $26.63.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, October 28th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.17. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. Invesco had a net margin of 14.15% and a return on equity of 9.11%. Invesco’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. As a group, equities analysts anticipate that Invesco will post 1.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Douglas J. Sharp sold 160,000 shares of Invesco stock in a transaction on Friday, October 31st. The shares were sold at an average price of $23.56, for a total value of $3,769,600.00. Following the sale, the director owned 192 shares of the company’s stock, valued at approximately $4,523.52. This trade represents a 99.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Invesco

Several large investors have recently bought and sold shares of IVZ. Jump Financial LLC grew its position in Invesco by 30.2% in the 1st quarter. Jump Financial LLC now owns 231,218 shares of the asset manager’s stock valued at $3,508,000 after acquiring an additional 53,608 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Invesco by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,452,945 shares of the asset manager’s stock valued at $67,551,000 after purchasing an additional 29,613 shares during the period. KLP Kapitalforvaltning AS grew its holdings in shares of Invesco by 46.1% in the second quarter. KLP Kapitalforvaltning AS now owns 96,300 shares of the asset manager’s stock valued at $1,519,000 after purchasing an additional 30,400 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Invesco during the 1st quarter worth approximately $418,000. Finally, Asset Management One Co. Ltd. increased its stake in Invesco by 729.1% during the 2nd quarter. Asset Management One Co. Ltd. now owns 108,246 shares of the asset manager’s stock worth $1,707,000 after buying an additional 95,190 shares during the period. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

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.