Invesco (NYSE:IVZ – Get Free Report) was upgraded by stock analysts at UBS Group to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.
IVZ has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Invesco in a research note on Friday, September 25th. Jefferies Financial Group upgraded shares of Invesco to a “hold” rating in a research note on Tuesday, June 30th. Morgan Stanley boosted their target price on Invesco from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. Zacks Research lowered Invesco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Finally, Barclays raised their price target on Invesco from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.27.
Get Our Latest Stock Report on Invesco
Invesco Stock Down 1.4%
Invesco (NYSE:IVZ – Get Free Report) last announced its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Invesco had a negative net margin of 0.93% and a positive return on equity of 12.83%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. Equities research analysts predict that Invesco will post 2.83 earnings per share for the current fiscal year.
Insider Transactions at Invesco
In related news, Director Andrew Tak Shing Lo sold 100,840 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $32.20, for a total value of $3,247,048.00. Following the transaction, the director owned 812,477 shares in the company, valued at $26,161,759.40. This trade represents a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Laura Dukes sold 31,075 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $33.16, for a total value of $1,030,447.00. Following the completion of the transaction, the chief financial officer owned 259,183 shares in the company, valued at approximately $8,594,508.28. This represents a 10.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,540 shares of company stock valued at $7,227,167 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
Institutional Trading of Invesco
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Invesco by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,361,119 shares of the asset manager’s stock valued at $518,836,000 after purchasing an additional 596,434 shares during the period. Bank of New York Mellon Corp grew its position in shares of Invesco by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 3,431,694 shares of the asset manager’s stock worth $83,356,000 after buying an additional 182,060 shares during the period. Macquarie Group Ltd. grew its position in shares of Invesco by 0.9% during the 4th quarter. Macquarie Group Ltd. now owns 2,979,258 shares of the asset manager’s stock worth $78,265,000 after buying an additional 27,065 shares during the period. Bank of America Corp DE raised its stake in shares of Invesco by 28.9% during the first quarter. Bank of America Corp DE now owns 2,654,290 shares of the asset manager’s stock worth $64,473,000 after buying an additional 595,797 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Invesco by 24.1% in the first quarter. Quantinno Capital Management LP now owns 1,574,728 shares of the asset manager’s stock valued at $38,250,000 after buying an additional 306,213 shares during the period. 66.09% of the stock is owned by institutional investors.
Invesco Company Profile
Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm that provides investment products and services to individuals, financial advisers, institutions and other clients. The company manages assets across public and private markets and serves clients through a range of investment strategies.
Its offerings include exchange-traded funds, mutual funds, separately managed accounts, institutional mandates and alternative investments. Invesco provides exposure to equities, fixed income, commodities, multi-asset strategies and other asset classes, with both actively managed and index-based investment solutions.
Headquartered in Atlanta, Georgia, Invesco serves clients across North America, Europe, Asia-Pacific and other international markets through offices and investment teams around the world.
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