Invesco (NYSE:IVZ) Given New $20.00 Price Target at JPMorgan Chase & Co.

Invesco (NYSE:IVZ) had its price target increased by JPMorgan Chase & Co. from $17.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.86% from the company’s current price.

Several other research firms have also issued reports on IVZ. Wells Fargo & Company upped their price target on shares of Invesco from $16.00 to $16.50 and gave the company an “underweight” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Evercore ISI lifted their price target on Invesco from $17.00 to $18.00 and gave the company an “in-line” rating in a research report on Tuesday, August 20th. Barclays started coverage on shares of Invesco in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $18.00 price objective on the stock. Finally, Morgan Stanley raised their price target on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.88.

Invesco Price Performance

Shares of NYSE IVZ opened at $18.04 on Monday. 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 stock’s 50-day simple moving average is $17.07 and its two-hundred day simple moving average is $16.08. The firm has a market capitalization of $8.11 billion, a P/E ratio of -24.05, a P/E/G ratio of 1.10 and a beta of 1.44. Invesco has a twelve month low of $12.48 and a twelve month high of $18.79.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. As a group, equities analysts anticipate that Invesco will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Family Firm Inc. bought a new stake in Invesco during the 2nd quarter valued at $28,000. Sentry Investment Management LLC bought a new stake in Invesco during the second quarter valued at about $30,000. Fidelis Capital Partners LLC purchased a new position in Invesco in the first quarter valued at about $52,000. Abich Financial Wealth Management LLC raised its holdings in Invesco by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after purchasing an additional 1,210 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Invesco during the first quarter valued at about $64,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

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.