JPMorgan Chase & Co. Boosts Invesco (NYSE:IVZ) Price Target to $20.00

Invesco (NYSE:IVZ) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $17.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 8.11% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Barclays assumed coverage on Invesco in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price objective for the company. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their target price on shares of Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their price objective on Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.71.

Invesco Price Performance

Shares of IVZ stock traded down $0.13 on Monday, reaching $18.50. The company’s stock had a trading volume of 1,233,308 shares, compared to its average volume of 4,217,445. The stock’s 50 day simple moving average is $17.03 and its 200-day simple moving average is $16.07. Invesco has a 12-month low of $12.48 and a 12-month high of $18.79. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $8.32 billion, a P/E ratio of -24.67, a PEG ratio of 1.10 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, equities analysts predict that Invesco will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in Invesco during the 2nd quarter worth about $28,000. Sentry Investment Management LLC acquired a new stake in shares of Invesco in the second quarter worth $30,000. Fidelis Capital Partners LLC purchased a new stake in Invesco during the 1st quarter worth $52,000. Abich Financial Wealth Management LLC increased its holdings in Invesco by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 1,210 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Invesco during the second quarter worth about $61,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.