Invesco (NYSE:IVZ) Coverage Initiated by Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company began coverage on shares of Invesco (NYSE:IVZ) in a research note issued on Thursday, Marketbeat reports. The brokerage set an “underweight” rating and a $16.00 price target on the asset manager’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 0.12% from the company’s previous close.

A number of other research firms have also weighed in on IVZ. The Goldman Sachs Group decreased their target price on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. StockNews.com lowered shares of Invesco from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Evercore ISI increased their price target on shares of Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Barclays assumed coverage on shares of Invesco in a report on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 target price on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Invesco currently has a consensus rating of “Hold” and a consensus target price of $16.98.

Invesco Stock Up 1.0 %

IVZ opened at $16.02 on Thursday. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -21.36, a PEG ratio of 1.09 and a beta of 1.44. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $16.38 and its two-hundred day moving average price is $15.77. Invesco has a twelve month low of $12.48 and a twelve month high of $18.28.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. Invesco’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. As a group, equities analysts expect that Invesco will post 1.65 earnings per share for the current year.

Institutional Investors Weigh In On Invesco

Institutional investors and hedge funds have recently modified their holdings of the stock. Family Firm Inc. purchased a new stake in shares of Invesco in the 2nd quarter worth about $28,000. Sentry Investment Management LLC bought a new stake in Invesco during the 2nd quarter valued at about $30,000. Quarry LP bought a new stake in Invesco during the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC increased its stake in Invesco by 182.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 1,589 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Invesco by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,945 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 766 shares in the last quarter. 66.09% of the stock is owned by hedge funds and other 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.