Invesco (NYSE:IVZ) Lowered to “Hold” Rating by Zacks Research

Invesco (NYSE:IVZ) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

Other research analysts also recently issued research reports about the company. TD Cowen upped their price objective on Invesco from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Jefferies Financial Group raised shares of Invesco to a “hold” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their price objective on Invesco from $29.00 to $29.50 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Royal Bank Of Canada lowered Invesco from an “outperform” rating to a “hold” rating and set a $39.00 target price for the company. in a research report on Thursday, August 13th. Finally, Weiss Ratings upgraded Invesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.88.

Invesco Stock Down 2.2%

Shares of IVZ opened at $32.33 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 1.31. Invesco has a 52 week low of $20.67 and a 52 week high of $33.66. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of -47.55, a PEG ratio of 0.48 and a beta of 1.63. The stock has a fifty day moving average of $30.71 and a 200-day moving average of $27.58.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%.Invesco’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, sell-side analysts anticipate that Invesco will post 2.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Invesco

A number of institutional investors have recently modified their holdings of IVZ. California State Teachers Retirement System raised its holdings in shares of Invesco by 23.4% in the 1st quarter. California State Teachers Retirement System now owns 417,476 shares of the asset manager’s stock worth $10,140,000 after acquiring an additional 79,273 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Invesco by 2,633.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 960,441 shares of the asset manager’s stock worth $23,330,000 after purchasing an additional 925,300 shares in the last quarter. Sonoma Allocations LLC purchased a new stake in shares of Invesco in the second quarter worth approximately $11,797,000. Principal Financial Group Inc. lifted its holdings in shares of Invesco by 5.5% in the first quarter. Principal Financial Group Inc. now owns 824,547 shares of the asset manager’s stock valued at $20,028,000 after purchasing an additional 43,322 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Invesco by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager’s stock valued at $83,356,000 after buying an additional 182,060 shares during the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.