Invesco (NYSE:IVZ) Stock Rating Upgraded by Zacks Research

Invesco (NYSE:IVZ) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on IVZ. Barclays increased their price target on Invesco from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Citigroup increased their target price on Invesco from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Fundamental Research set a $27.00 price target on Invesco in a research note on Friday, October 31st. Wells Fargo & Company raised shares of Invesco from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $14.50 to $18.00 in a research report on Friday, July 11th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Invesco in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.41.

Invesco Stock Performance

IVZ traded down $0.02 during midday trading on Thursday, hitting $23.37. 5,388,660 shares of the company traded hands, compared to its average volume of 5,453,198. The company’s 50-day moving average is $22.91 and its 200 day moving average is $19.14. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $10.42 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.72. Invesco has a 52 week low of $11.60 and a 52 week high of $24.75.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, October 28th. The asset manager reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.17. Invesco had a net margin of 14.15% and a return on equity of 8.52%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that Invesco will post 1.87 EPS for the current year.

Insider Activity at Invesco

In related news, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $23.56, for a total value of $3,769,600.00. Following the completion of the transaction, the director owned 192 shares of the company’s stock, valued at approximately $4,523.52. This represents a 99.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephanie Butcher sold 103,192 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the sale, the director owned 29,855 shares of the company’s stock, valued at $660,392.60. The trade was a 77.56% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.21% of the stock is owned by insiders.

Institutional Trading of Invesco

Several hedge funds have recently bought and sold shares of IVZ. CNB Bank bought a new stake in shares of Invesco in the third quarter worth about $26,000. Sentry Investment Management LLC purchased a new position in Invesco during the 3rd quarter valued at approximately $30,000. Root Financial Partners LLC bought a new stake in Invesco in the 3rd quarter worth approximately $30,000. Quent Capital LLC bought a new stake in Invesco in the 3rd quarter worth approximately $37,000. Finally, Capital A Wealth Management LLC raised its holdings in shares of Invesco by 4,802.9% during the 2nd quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock worth $26,000 after acquiring an additional 1,633 shares in the last quarter. Hedge funds and other 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.