Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Invesco (NYSE:IVZ)

Invesco (NYSE:IVZ)‘s stock had its “market perform” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research note issued on Wednesday,Benzinga reports. They presently have a $20.00 price objective on the asset manager’s stock, up from their previous price objective of $18.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 3.87% from the stock’s current price.

IVZ has been the subject of several other research reports. UBS Group upped their price target on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Barclays boosted their price objective on Invesco from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday. 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 report on Tuesday. Finally, TD Cowen reduced their price target on Invesco from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Invesco has a consensus rating of “Hold” and an average target price of $19.71.

Invesco Price Performance

IVZ opened at $19.26 on Wednesday. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $17.70 and its 200 day moving average price is $17.30. Invesco has a fifty-two week low of $14.16 and a fifty-two week high of $19.55. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of -20.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43.

Invesco (NYSE:IVZ) last announced 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 positive return on equity of 8.83% and a negative net margin of 3.00%. As a group, sell-side analysts expect that Invesco will post 1.7 earnings per share for the current year.

Institutional Trading of Invesco

Large investors have recently added to or reduced their stakes in the business. Massachusetts Mutual Life Insurance Co. acquired a new stake in shares of Invesco during the 3rd quarter valued at $1,428,196,000. State Street Corp lifted its holdings in shares of Invesco by 0.7% during the third quarter. State Street Corp now owns 21,060,533 shares of the asset manager’s stock valued at $369,823,000 after purchasing an additional 151,408 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Invesco by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 10,248,480 shares of the asset manager’s stock valued at $179,666,000 after purchasing an additional 93,126 shares during the period. Fisher Asset Management LLC increased its stake in Invesco by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock worth $79,738,000 after purchasing an additional 87,405 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Invesco by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,311,814 shares of the asset manager’s stock worth $75,715,000 after buying an additional 45,891 shares during the period. 66.09% of the stock is currently owned by institutional investors.

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.