Bank of America cut shares of Invesco (NYSE:IVZ) from a buy rating to a neutral rating in a report issued on Monday, Marketbeat reports. They currently have $42.00 price target on the asset manager’s stock.

Several other equities analysts have also recently issued reports on IVZ. JPMorgan Chase & Co. set a $45.00 price target on shares of Invesco and gave the company a buy rating in a research report on Monday. Zacks Investment Research upgraded shares of Invesco from a hold rating to a buy rating and set a $41.00 price objective on the stock in a report on Wednesday, January 3rd. Morgan Stanley cut shares of Invesco from an overweight rating to an equal weight rating and cut their price objective for the stock from $40.00 to $39.00 in a report on Wednesday, January 3rd. ValuEngine upgraded shares of Invesco from a hold rating to a buy rating in a report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods restated a buy rating and issued a $39.00 price objective on shares of Invesco in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Invesco has a consensus rating of Hold and a consensus price target of $39.79.

Invesco (NYSE:IVZ) opened at $36.82 on Monday. Invesco has a 52-week low of $28.75 and a 52-week high of $37.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $14,990.00, a PE ratio of 15.94, a P/E/G ratio of 1.06 and a beta of 1.80.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The company had revenue of $976.60 million for the quarter, compared to analysts’ expectations of $940.96 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. Invesco’s quarterly revenue was up 14.3% on a year-over-year basis. research analysts forecast that Invesco will post 2.66 EPS for the current fiscal year.

In other Invesco news, insider Colin Meadows sold 54,215 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total value of $1,952,282.15. Following the sale, the insider now owns 164,420 shares in the company, valued at $5,920,764.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Flinton Capital Management LLC lifted its stake in shares of Invesco by 0.8% in the second quarter. Flinton Capital Management LLC now owns 10,368 shares of the asset manager’s stock worth $365,000 after buying an additional 80 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Invesco by 1.3% in the second quarter. Riverhead Capital Management LLC now owns 11,593 shares of the asset manager’s stock worth $408,000 after buying an additional 144 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Invesco by 0.3% in the second quarter. Cubist Systematic Strategies LLC now owns 61,079 shares of the asset manager’s stock worth $2,149,000 after buying an additional 202 shares in the last quarter. Veritable L.P. lifted its stake in shares of Invesco by 1.9% in the second quarter. Veritable L.P. now owns 11,997 shares of the asset manager’s stock worth $422,000 after buying an additional 219 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its stake in shares of Invesco by 0.9% in the second quarter. Sentry Investment Management LLC now owns 25,726 shares of the asset manager’s stock worth $905,000 after buying an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Invesco (IVZ) Rating Lowered to Neutral at Bank of America” was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://theolympiareport.com/2018/01/11/invesco-ivz-rating-lowered-to-neutral-at-bank-of-america.html.

Invesco Company Profile

Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.

Analyst Recommendations for Invesco (NYSE:IVZ)

Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.