Wells Fargo & Company Forecasts Strong Price Appreciation for Invesco (NYSE:IVZ) Stock

Invesco (NYSE:IVZ) had its target price hoisted by Wells Fargo & Company from $17.00 to $19.50 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.27% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Argus lifted their target price on shares of Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI boosted their price objective on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on Invesco from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday. UBS Group boosted their price target on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.71.

Invesco Stock Performance

Shares of NYSE:IVZ opened at $19.26 on Wednesday. The business has a 50-day moving average of $17.70 and a two-hundred day moving average of $17.30. The firm has a market capitalization of $8.65 billion, a PE ratio of -20.93, a P/E/G ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.91 and a quick ratio of 4.91. Invesco has a 12 month low of $14.16 and a 12 month high of $19.55.

Invesco (NYSE:IVZ) last posted 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%. As a group, research analysts forecast that Invesco will post 1.7 earnings per share for the current year.

Institutional Trading of Invesco

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in Invesco by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,540,913 shares of the asset manager’s stock valued at $79,738,000 after purchasing an additional 87,405 shares during the last quarter. Massachusetts Mutual Life Insurance Co. acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $1,428,196,000. Algert Global LLC bought a new stake in shares of Invesco in the 2nd quarter worth approximately $551,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Invesco by 1.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,452 shares of the asset manager’s stock worth $1,378,000 after purchasing an additional 1,020 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Invesco during the 3rd quarter worth $853,000. 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.