Citigroup Has Lowered Expectations for Invesco (NYSE:IVZ) Stock Price

Invesco (NYSE:IVZ) had its price objective dropped by stock analysts at Citigroup from $20.00 to $16.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Citigroup’s price objective suggests a potential upside of 5.37% from the company’s current price.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on Invesco from $19.00 to $20.75 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays boosted their target price on Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. BMO Capital Markets lifted their target price on Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. UBS Group upped their price objective on Invesco from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Argus upped their price target on Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and a consensus price target of $19.66.

Invesco Price Performance

NYSE IVZ opened at $15.19 on Monday. The firm’s 50 day moving average is $17.05 and its 200-day moving average is $17.42. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $6.80 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. Invesco has a 12-month low of $14.16 and a 12-month high of $19.55.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. Equities research analysts anticipate that Invesco will post 1.87 earnings per share for the current fiscal year.

Institutional Trading of Invesco

Institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in Invesco during the 3rd quarter valued at about $35,000. Colonial Trust Co SC acquired a new stake in Invesco in the 4th quarter worth about $38,000. Aster Capital Management DIFC Ltd raised its position in shares of Invesco by 180.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock valued at $42,000 after buying an additional 1,531 shares during the last quarter. Crews Bank & Trust acquired a new stake in Invesco in the 4th quarter valued at about $44,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Invesco in the fourth quarter valued at approximately $52,000. Institutional investors 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.