BMO Capital Markets Upgrades Invesco (NYSE:IVZ) to Strong-Buy

Invesco (NYSE:IVZ) was upgraded by investment analysts at BMO Capital Markets to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

IVZ has been the subject of several other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Invesco in a research note on Saturday, September 27th. Bank of America lifted their target price on Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup raised their price target on Invesco from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday. The Goldman Sachs Group raised their price target on Invesco from $16.25 to $16.75 and gave the stock a “neutral” rating in a research report on Friday, June 27th. Finally, Wells Fargo & Company upgraded Invesco from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.92.

Invesco Stock Up 1.9%

NYSE IVZ opened at $24.05 on Thursday. The stock has a fifty day moving average of $21.84 and a 200-day moving average of $17.48. The stock has a market capitalization of $10.72 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.33 and a beta of 1.66. Invesco has a 52 week low of $11.60 and a 52 week high of $24.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Invesco had a net margin of 10.68% and a return on equity of 8.60%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.43 earnings per share. On average, equities research analysts forecast that Invesco will post 1.87 EPS for the current year.

Insiders Place Their Bets

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total transaction of $2,282,607.04. Following the transaction, the director directly owned 29,855 shares in the company, valued at approximately $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC lifted its holdings in Invesco by 30.2% during the first quarter. Jump Financial LLC now owns 231,218 shares of the asset manager’s stock worth $3,508,000 after acquiring an additional 53,608 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Invesco by 8.5% in the first quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager’s stock valued at $6,148,000 after purchasing an additional 31,643 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Invesco by 177.3% during the first quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager’s stock worth $21,213,000 after buying an additional 894,105 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Invesco by 25.7% during the first quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager’s stock worth $3,021,000 after buying an additional 40,665 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Invesco by 24.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager’s stock worth $296,000 after buying an additional 3,778 shares during the period. 66.09% of the stock is currently owned by institutional investors.

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.