JPMorgan Chase & Co. Cuts Invesco (NYSE:IVZ) Price Target to $16.50

Invesco (NYSE:IVZ) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $17.00 to $16.50 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 15.95% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada lifted their target price on shares of Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 18th. UBS Group dropped their target price on shares of Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. Wells Fargo & Company dropped their target price on shares of Invesco from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods decreased their price target on shares of Invesco from $21.00 to $19.50 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Finally, StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.25.

Invesco Stock Performance

Shares of Invesco stock traded down $0.35 during trading hours on Wednesday, reaching $14.23. The company’s stock had a trading volume of 3,184,688 shares, compared to its average volume of 4,674,117. The company’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $15.45. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.01 and a current ratio of 5.01. Invesco has a one year low of $12.48 and a one year high of $18.71. The stock has a market cap of $6.39 billion, a P/E ratio of -19.34, a price-to-earnings-growth ratio of 1.03 and a beta of 1.44.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Invesco had a positive return on equity of 7.93% and a negative net margin of 1.70%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that Invesco will post 1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Invesco

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Invesco by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,798,051 shares of the asset manager’s stock valued at $246,163,000 after buying an additional 2,592,039 shares during the period. Northern Trust Corp increased its holdings in Invesco by 30.7% in the 3rd quarter. Northern Trust Corp now owns 5,943,943 shares of the asset manager’s stock valued at $86,306,000 after buying an additional 1,395,023 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Invesco by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,034,956 shares of the asset manager’s stock valued at $71,984,000 after buying an additional 136,582 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Invesco by 11.1% in the 4th quarter. Fisher Asset Management LLC now owns 3,921,250 shares of the asset manager’s stock worth $69,955,000 after purchasing an additional 391,935 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Invesco by 1,411.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,756,500 shares of the asset manager’s stock worth $67,016,000 after purchasing an additional 3,507,900 shares during the last quarter. 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.