Wells Fargo & Company Cuts Invesco (NYSE:IVZ) Price Target to $14.50

Invesco (NYSE:IVZ) had its price target reduced by equities researchers at Wells Fargo & Company from $19.50 to $14.50 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 20.49% from the company’s current price.

IVZ has been the topic of several other reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $20.00 price target (up from $18.00) on shares of Invesco in a research report on Wednesday, January 29th. Argus upped their target price on shares of Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. BMO Capital Markets boosted their price objective on shares of Invesco from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group decreased their target price on shares of Invesco from $18.50 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada assumed coverage on Invesco in a research report on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.97.

Invesco Trading Down 5.3 %

Invesco stock traded down $0.68 during mid-day trading on Tuesday, reaching $12.03. 9,483,520 shares of the company traded hands, compared to its average volume of 4,166,678. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91. Invesco has a 52-week low of $11.88 and a 52-week high of $19.55. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.98 and a beta of 1.26. The firm’s 50 day moving average price is $16.75 and its 200 day moving average price is $17.34.

Invesco (NYSE:IVZ) last announced its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share (EPS) 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%. On average, analysts anticipate that Invesco will post 1.87 earnings per share for the current fiscal year.

Institutional Trading of Invesco

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Invesco by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,613,488 shares of the asset manager’s stock worth $45,684,000 after purchasing an additional 113,451 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Invesco in the fourth quarter worth approximately $735,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Invesco during the 4th quarter worth $424,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Invesco by 41.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,065 shares of the asset manager’s stock worth $867,000 after purchasing an additional 14,489 shares in the last quarter. Finally, Carrera Capital Advisors bought a new position in Invesco in the 4th quarter worth $1,201,000. 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.