Invesco (NYSE:IVZ) Price Target Raised to $17.50 at Wells Fargo & Company

Invesco (NYSE:IVZ) had its price target increased by analysts at Wells Fargo & Company from $16.50 to $17.50 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 0.68% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. UBS Group raised their price target on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI upped their price target on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group boosted their price target on Invesco from $17.25 to $17.50 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.38.

Invesco Price Performance

Shares of IVZ opened at $17.62 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. The company has a 50 day moving average price of $17.14 and a 200-day moving average price of $16.11. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.79. The stock has a market capitalization of $7.93 billion, a PE ratio of -23.49, a PEG ratio of 1.10 and a beta of 1.44.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. Invesco’s revenue was down 20.8% on a year-over-year basis. Equities analysts predict that Invesco will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Invesco

Hedge funds have recently bought and sold shares of the stock. Family Firm Inc. acquired a new position in shares of Invesco in the 2nd quarter valued at $28,000. Sentry Investment Management LLC acquired a new position in shares of Invesco in the second quarter worth about $30,000. Allworth Financial LP boosted its stake in shares of Invesco by 304.0% during the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after acquiring an additional 1,806 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Invesco in the 1st quarter valued at about $52,000. Finally, Abich Financial Wealth Management LLC raised 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 worth $60,000 after purchasing an additional 1,210 shares during the period. Hedge funds and other institutional investors 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.