Invesco PLC (IVZ) Given Consensus Recommendation of “Buy” by Brokerages
Invesco PLC (NYSE:IVZ) has been assigned a consensus recommendation of “Buy” from the sixteen analysts that are currently covering the firm. Four analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $36.10.
A number of brokerages recently issued reports on IVZ. Deutsche Bank AG reissued a “buy” rating on shares of Invesco PLC in a report on Sunday, July 10th. Jefferies Group reissued a “buy” rating and issued a $30.00 price objective (down previously from $35.00) on shares of Invesco PLC in a report on Monday, July 11th. Citigroup Inc. upped their price objective on shares of Invesco PLC from $27.00 to $31.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Barclays PLC reissued an “overweight” rating and issued a $34.00 price objective on shares of Invesco PLC in a report on Friday, July 15th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Invesco PLC from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, July 29th.
In related news, Director Edward P. Lawrence sold 1,609 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $30.84, for a total value of $49,621.56. Following the sale, the director now owns 33,848 shares of the company’s stock, valued at $1,043,872.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ben F. Johnson III bought 2,000 shares of Invesco PLC stock in a transaction that occurred on Monday, August 1st. The stock was purchased at an average cost of $29.24 per share, for a total transaction of $58,480.00. Following the acquisition, the director now owns 28,653 shares of the company’s stock, valued at $837,813.72. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.
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Hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its stake in Invesco PLC by 13.6% in the first quarter. UBS Group AG now owns 14,334,235 shares of the company’s stock worth $441,064,000 after buying an additional 1,716,501 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Invesco PLC by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 56,844 shares of the company’s stock worth $1,749,000 after buying an additional 18,738 shares during the last quarter. State Street Corp boosted its stake in Invesco PLC by 0.7% in the first quarter. State Street Corp now owns 17,469,359 shares of the company’s stock worth $537,535,000 after buying an additional 120,361 shares during the last quarter. BB&T Securities LLC boosted its stake in Invesco PLC by 48.3% in the first quarter. BB&T Securities LLC now owns 1,414,708 shares of the company’s stock worth $43,530,000 after buying an additional 460,989 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Invesco PLC by 32.8% in the first quarter. 1832 Asset Management L.P. now owns 255,577 shares of the company’s stock worth $13,209,000 after buying an additional 63,149 shares during the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.
Invesco PLC (NYSE:IVZ) traded down 2.1117% during midday trading on Tuesday, hitting $30.5901. 2,872,823 shares of the stock traded hands. Invesco PLC has a 12-month low of $23.02 and a 12-month high of $35.00. The company’s 50-day moving average is $30.96 and its 200 day moving average is $29.65. The firm has a market cap of $12.54 billion, a P/E ratio of 15.4495 and a beta of 1.96.
Invesco PLC (NYSE:IVZ) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. Invesco PLC had a net margin of 17.27% and a return on equity of 11.35%. The firm earned $1.19 billion during the quarter, compared to analyst estimates of $853.16 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Invesco PLC’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts anticipate that Invesco PLC will post $2.26 EPS for the current fiscal year.
About Invesco PLC
Invesco Ltd. (Invesco) is an independent global investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a diverse set of investment vehicles, to help clients achieve their investment objectives. It operates in the investment management segment.
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