TD Cowen Has Lowered Expectations for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price objective lowered by investment analysts at TD Cowen from $39.00 to $38.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s price objective points to a potential upside of 31.25% from the stock’s current price.

Several other research analysts have also weighed in on IVZ. Jefferies Financial Group raised shares of Invesco to a “hold” rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods assumed coverage on shares of Invesco in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $39.00 target price for the company. Barclays upped their target price on shares of Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Zacks Research lowered shares of Invesco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Invesco from $29.00 to $29.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.12.

Invesco Price Performance

Shares of IVZ opened at $28.95 on Monday. The stock has a market cap of $12.83 billion, a P/E ratio of -42.58, a price-to-earnings-growth ratio of 0.43 and a beta of 1.65. Invesco has a 1 year low of $20.67 and a 1 year high of $33.66. The stock’s 50-day moving average price is $31.46 and its two-hundred day moving average price is $28.63. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Invesco had a positive return on equity of 12.83% and a negative net margin of 0.93%. Invesco’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. On average, equities analysts predict that Invesco will post 2.83 earnings per share for the current year.

Insider Activity at Invesco

In related news, Director Phoebe Wood sold 3,000 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $32.44, for a total value of $97,320.00. Following the sale, the director directly owned 107,111 shares of the company’s stock, valued at approximately $3,474,680.84. The trade was a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Laura Dukes sold 31,075 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $33.16, for a total transaction of $1,030,447.00. Following the completion of the transaction, the chief financial officer directly owned 259,183 shares of the company’s stock, valued at approximately $8,594,508.28. The trade was a 10.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 222,540 shares of company stock valued at $7,227,167. 1.40% of the stock is owned by insiders.

Institutional Trading of Invesco

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Invesco by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock worth $518,836,000 after purchasing an additional 596,434 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Invesco by 5.6% in the 1st 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. Bank of America Corp DE boosted its holdings in shares of Invesco by 28.9% in the 1st quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock valued at $64,473,000 after buying an additional 595,797 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Invesco by 24.1% in the 1st quarter. Quantinno Capital Management LP now owns 1,574,728 shares of the asset manager’s stock valued at $38,250,000 after buying an additional 306,213 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Invesco by 19.9% in the 1st quarter. Sei Investments Co. now owns 1,396,191 shares of the asset manager’s stock valued at $35,681,000 after buying an additional 231,926 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors.

Invesco Company Profile

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across public and private markets and serves clients through a range of investment strategies.

Its offerings include exchange-traded funds, mutual funds, separately managed accounts, institutional mandates and alternative investments. Invesco provides exposure to equities, fixed income, commodities, multi-asset strategies and other asset classes, with both actively managed and index-based investment solutions.

Headquartered in Atlanta, Georgia, Invesco serves clients across North America, Europe, Asia-Pacific and other international markets through offices and investment teams around the world.