Invesco (NYSE:IVZ) Price Target Lowered to $19.00 at TD Cowen

Invesco (NYSE:IVZ) had its price target reduced by analysts at TD Cowen from $20.00 to $19.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the asset manager’s stock. TD Cowen’s price objective points to a potential downside of 1.85% from the stock’s current price.

IVZ has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their target price on Invesco from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday. Morgan Stanley lowered their price objective on Invesco from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays cut their target price on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and a consensus price target of $18.50.

Invesco Stock Performance

Shares of NYSE IVZ traded up $1.61 during mid-day trading on Tuesday, hitting $19.36. The stock had a trading volume of 3,510,283 shares, compared to its average volume of 3,471,694. The company has a 50 day moving average of $17.60 and a two-hundred day moving average of $17.25. Invesco has a twelve month low of $14.16 and a twelve month high of $19.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91. The firm has a market cap of $8.70 billion, a PE ratio of -21.00, a PEG ratio of 1.06 and a beta of 1.43.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. Research analysts predict that Invesco will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IVZ. Public Sector Pension Investment Board raised its position in shares of Invesco by 12.3% in the second quarter. Public Sector Pension Investment Board now owns 75,751 shares of the asset manager’s stock valued at $1,133,000 after buying an additional 8,317 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Invesco by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 319,240 shares of the asset manager’s stock valued at $4,776,000 after acquiring an additional 2,451 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Invesco by 19.3% in the 2nd quarter. Mackenzie Financial Corp now owns 57,647 shares of the asset manager’s stock worth $862,000 after purchasing an additional 9,336 shares in the last quarter. Algert Global LLC acquired a new position in shares of Invesco during the 2nd quarter worth approximately $551,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco by 1.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after purchasing an additional 946 shares in the last quarter. 66.09% of the stock is owned by institutional investors and hedge funds.

About Invesco

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.