Invesco PLC (IVZ) Raised to Buy at ValuEngine
Invesco PLC (NYSE:IVZ) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday, October 2nd.
IVZ has been the topic of several other research reports. Goldman Sachs Group, Inc. (The) downgraded Invesco PLC from a “buy” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $36.00 in a report on Thursday, September 28th. Citigroup Inc. upgraded shares of Invesco PLC from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $37.50 in a research note on Monday, June 5th. Morgan Stanley restated an “overweight” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Invesco PLC in a research note on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating and set a $41.00 price target on shares of Invesco PLC in a research note on Sunday, July 30th. Finally, BidaskClub downgraded shares of Invesco PLC from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $38.04.
Invesco PLC (NYSE IVZ) traded down 0.39% during midday trading on Monday, reaching $36.15. 3,281,535 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $33.88 and its 200-day moving average price is $33.48. The company has a market capitalization of $14.71 billion, a PE ratio of 16.12 and a beta of 1.80. Invesco PLC has a 1-year low of $27.46 and a 1-year high of $36.84.
Invesco PLC (NYSE:IVZ) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The firm had revenue of $906.30 million for the quarter, compared to analyst estimates of $891.19 million. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 earnings per share. Equities analysts expect that Invesco PLC will post $2.57 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Invesco PLC by 2,611.3% during the 1st quarter. BlackRock Inc. now owns 32,067,091 shares of the asset manager’s stock worth $982,213,000 after purchasing an additional 30,884,375 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Invesco PLC by 7.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,344,769 shares of the asset manager’s stock worth $47,323,000 after purchasing an additional 87,755 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Invesco PLC by 5.4% during the 1st quarter. Legal & General Group Plc now owns 2,100,821 shares of the asset manager’s stock worth $64,347,000 after purchasing an additional 108,212 shares in the last quarter. Eaton Vance Management raised its stake in shares of Invesco PLC by 247.2% during the 2nd quarter. Eaton Vance Management now owns 452,597 shares of the asset manager’s stock worth $15,927,000 after purchasing an additional 322,230 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Invesco PLC by 17.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,300,168 shares of the asset manager’s stock valued at $45,754,000 after acquiring an additional 192,018 shares during the period. Hedge funds and other institutional investors own 79.79% of the company’s stock.
Invesco PLC Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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