Invesco (NYSE:IVZ) Given New $19.00 Price Target at TD Cowen

Invesco (NYSE:IVZ) had its price objective cut by analysts at TD Cowen from $20.00 to $19.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the asset manager’s stock. TD Cowen’s price objective would indicate a potential downside of 1.85% from the company’s previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their price objective on Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday. Evercore ISI lifted their price target on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada began coverage on shares of Invesco in a report on Tuesday. They issued a “sector perform” rating and a $19.00 target price for the company. Finally, The Goldman Sachs Group cut their target price on Invesco from $19.25 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.50.

Invesco Trading Up 9.1 %

Shares of Invesco stock traded up $1.61 during mid-day trading on Tuesday, hitting $19.36. The stock had a trading volume of 3,510,283 shares, compared to its average volume of 3,471,694. The firm has a 50-day moving average of $17.60 and a two-hundred day moving average of $17.25. The firm has a market cap of $8.70 billion, a P/E ratio of -21.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. Invesco has a 12-month low of $14.16 and a 12-month high of $19.20.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. Sell-side analysts forecast that Invesco will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On Invesco

Several large investors have recently bought and sold shares of IVZ. Massachusetts Mutual Life Insurance Co. acquired a new stake in Invesco during the 3rd quarter worth $1,428,196,000. Azora Capital LP purchased a new position in shares of Invesco during the third quarter worth about $27,289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Invesco by 131.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,156 shares of the asset manager’s stock worth $15,982,000 after purchasing an additional 516,622 shares in the last quarter. Algert Global LLC boosted its position in shares of Invesco by 1,207.8% in the 3rd quarter. Algert Global LLC now owns 481,270 shares of the asset manager’s stock valued at $8,451,000 after purchasing an additional 444,470 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in Invesco during the 3rd quarter worth approximately $4,889,000. Hedge funds and other 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.