Invesco (NYSE:IVZ) Price Target Lowered to $17.00 at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price target lowered by equities researchers at The Goldman Sachs Group from $18.50 to $17.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 19.38% from the company’s previous close.

IVZ has been the subject of a number of other reports. Barclays lifted their price target on shares of Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada started coverage on Invesco in a research report on Tuesday, January 28th. They set a “sector perform” rating and a $19.00 target price on the stock. BMO Capital Markets raised their price target on Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. TD Cowen decreased their price objective on shares of Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price on shares of Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Invesco has a consensus rating of “Hold” and a consensus target price of $19.30.

Invesco Price Performance

IVZ stock traded down $1.45 on Thursday, reaching $14.24. 3,688,511 shares of the company’s stock were exchanged, compared to its average volume of 4,722,642. The stock has a fifty day moving average of $17.02 and a 200-day moving average of $17.41. The firm has a market cap of $6.37 billion, a PE ratio of 12.07, a P/E/G ratio of 0.98 and a beta of 1.43. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco has a twelve month low of $13.92 and a twelve month high of $19.55.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. As a group, equities analysts predict that Invesco will post 1.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco

Several institutional investors have recently added to or reduced their stakes in IVZ. Bank of New York Mellon Corp grew its holdings in Invesco by 4.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager’s stock valued at $45,684,000 after buying an additional 113,451 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Invesco in the fourth quarter worth approximately $735,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Invesco in the fourth quarter valued at approximately $424,000. Massachusetts Mutual Life Insurance Co. acquired a new position in Invesco during the third quarter worth approximately $1,428,196,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Invesco by 41.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock worth $867,000 after purchasing an additional 14,489 shares during the period. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.