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

Invesco (NYSE:IVZ)‘s stock had its “market perform” rating reissued by Keefe, Bruyette & Woods in a report released on Wednesday,Benzinga reports. They currently have a $20.00 target price on the asset manager’s stock, up from their prior target price of $18.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 3.87% from the company’s previous close.

IVZ has been the topic of a number of other research reports. Evercore ISI boosted their target price on Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Barclays boosted their target price on shares of Invesco from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday. 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 report on Monday, November 11th. Finally, Argus upped their price objective on shares of Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Invesco presently has an average rating of “Hold” and an average target price of $19.71.

Invesco Price Performance

Shares of IVZ opened at $19.26 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of -20.93, a P/E/G ratio of 1.06 and a beta of 1.43. The business’s 50-day moving average is $17.70 and its 200-day moving average is $17.30. Invesco has a fifty-two week low of $14.16 and a fifty-two week 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. Equities research analysts expect that Invesco will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Invesco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Sector Pension Investment Board boosted its holdings in Invesco by 12.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 75,751 shares of the asset manager’s stock valued at $1,133,000 after purchasing an additional 8,317 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Invesco by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 319,240 shares of the asset manager’s stock valued at $4,776,000 after buying an additional 2,451 shares during the period. Mackenzie Financial Corp grew its position in Invesco by 19.3% during the second quarter. Mackenzie Financial Corp now owns 57,647 shares of the asset manager’s stock worth $862,000 after buying an additional 9,336 shares in the last quarter. Algert Global LLC bought a new position in Invesco during the second quarter valued at about $551,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Invesco by 1.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after acquiring an additional 946 shares in the last quarter. Institutional investors and hedge funds 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.