The Goldman Sachs Group Cuts Invesco (NYSE:IVZ) Price Target to $16.75

Invesco (NYSE:IVZ) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $17.75 to $16.75 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price target points to a potential upside of 17.71% from the stock’s current price.

Other analysts have also issued reports about the stock. TheStreet lowered shares of Invesco from a “b-” rating to a “c” rating in a research report on Friday, February 23rd. Royal Bank of Canada increased their price target on shares of Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $17.00 price target (down from $19.00) on shares of Invesco in a research report on Wednesday. Morgan Stanley increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.25.

Invesco Price Performance

NYSE IVZ traded down $0.35 on Wednesday, reaching $14.23. The company’s stock had a trading volume of 3,184,688 shares, compared to its average volume of 4,674,117. Invesco has a twelve month low of $12.48 and a twelve month high of $18.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.01 and a current ratio of 5.01. The stock has a market cap of $6.39 billion, a PE ratio of -19.34, a PEG ratio of 1.03 and a beta of 1.44. The firm’s 50 day moving average is $15.75 and its two-hundred day moving average is $15.45.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.38 earnings per share. Invesco’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Invesco will post 1.75 EPS for the current year.

Institutional Investors Weigh In On Invesco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gables Capital Management Inc. grew its stake in shares of Invesco by 74.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock worth $29,000 after acquiring an additional 700 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Invesco in the third quarter worth $25,000. Pinnacle Bancorp Inc. grew its stake in shares of Invesco by 100.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock worth $36,000 after acquiring an additional 1,000 shares during the last quarter. Quarry LP acquired a new stake in shares of Invesco in the fourth quarter worth $37,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Invesco in the third quarter worth $32,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

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.