Invesco (IVZ) Price Target Cut to $30.00
Invesco (NYSE:IVZ) had its price objective decreased by equities research analysts at Deutsche Bank from $31.00 to $30.00 in a report issued on Thursday. The brokerage presently has a “buy” rating on the asset manager’s stock. Deutsche Bank’s price target indicates a potential upside of 22.55% from the stock’s previous close.
Several other equities research analysts have also recently commented on IVZ. Keefe, Bruyette & Woods cut Invesco from an “outperform” rating to a “market perform” rating in a research note on Friday, July 13th. JPMorgan Chase & Co. lowered their price target on Invesco from $34.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Credit Suisse Group lowered their price target on Invesco from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. ValuEngine cut Invesco from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised Invesco from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.79.
Shares of NYSE IVZ opened at $24.48 on Thursday. The company has a market capitalization of $10.15 billion, a P/E ratio of 9.07, a PEG ratio of 1.01 and a beta of 1.70. Invesco has a 52 week low of $24.13 and a 52 week high of $38.43. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.51 and a quick ratio of 1.51.
In related news, major shareholder Ltd. Invesco bought 2,127,659 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The stock was purchased at an average price of $4.69 per share, with a total value of $9,978,720.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Andra AP fonden boosted its position in Invesco by 34.3% during the second quarter. Andra AP fonden now owns 260,100 shares of the asset manager’s stock worth $6,908,000 after purchasing an additional 66,400 shares during the period. Schroder Investment Management Group boosted its position in Invesco by 24.2% during the second quarter. Schroder Investment Management Group now owns 2,278,020 shares of the asset manager’s stock worth $60,573,000 after purchasing an additional 443,351 shares during the period. California Public Employees Retirement System boosted its position in Invesco by 7.6% during the second quarter. California Public Employees Retirement System now owns 1,109,182 shares of the asset manager’s stock worth $29,460,000 after purchasing an additional 78,427 shares during the period. Argent Trust Co bought a new stake in Invesco during the second quarter worth approximately $761,000. Finally, HPM Partners LLC boosted its position in Invesco by 4.7% during the second quarter. HPM Partners LLC now owns 46,858 shares of the asset manager’s stock worth $1,245,000 after purchasing an additional 2,109 shares during the period. 79.58% of the stock is owned by hedge funds and other institutional investors.
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.
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