Invesco PLC (IVZ) Price Target Increased to $37.00 by Analysts at Jefferies Group
Invesco PLC (NYSE:IVZ) had its target price upped by analysts at Jefferies Group from $30.00 to $37.00 in a research note issued on Tuesday. The firm presently has a “buy” rating on the stock. Jefferies Group’s target price indicates a potential upside of 18.40% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Bank of America Corp. reissued a “buy” rating and set a $37.00 price target on shares of Invesco PLC in a research note on Monday, September 26th. Wells Fargo & Co. restated a “buy” rating on shares of Invesco PLC in a report on Wednesday, September 21st. Citigroup Inc. cut shares of Invesco PLC from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $27.00 in a report on Monday, June 27th. JPMorgan Chase & Co. boosted their price objective on shares of Invesco PLC from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Finally, Barclays PLC decreased their price objective on shares of Invesco PLC from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $36.33.
Invesco PLC (NYSE:IVZ) traded down 2.6390% on Tuesday, hitting $30.4253. 3,177,670 shares of the stock were exchanged. The company has a 50 day moving average of $30.96 and a 200 day moving average of $29.65. Invesco PLC has a one year low of $23.02 and a one year high of $35.00. The stock has a market capitalization of $12.47 billion, a P/E ratio of 15.3663 and a beta of 1.96.
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Invesco PLC (NYSE:IVZ) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. The business earned $1.19 billion during the quarter, compared to the consensus estimate of $853.16 million. Invesco PLC had a net margin of 17.27% and a return on equity of 11.35%. Invesco PLC’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, equities research analysts forecast that Invesco PLC will post $2.26 earnings per share for the current fiscal year.
In other Invesco PLC news, Director Edward P. Lawrence sold 1,609 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $30.84, for a total transaction of $49,621.56. Following the sale, the director now directly owns 33,848 shares of the company’s stock, valued at $1,043,872.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ben F. Johnson III purchased 2,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were purchased at an average cost of $29.24 per share, for a total transaction of $58,480.00. Following the completion of the transaction, the director now directly owns 28,653 shares of the company’s stock, valued at approximately $837,813.72. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of IVZ. American Century Companies Inc. raised its stake in Invesco PLC by 129.7% in the second quarter. American Century Companies Inc. now owns 4,519,350 shares of the company’s stock valued at $115,424,000 after buying an additional 2,551,675 shares during the period. BlackRock Investment Management LLC raised its stake in Invesco PLC by 144.5% in the second quarter. BlackRock Investment Management LLC now owns 3,102,381 shares of the company’s stock valued at $79,235,000 after buying an additional 1,833,447 shares during the period. Prudential Financial Inc. raised its stake in Invesco PLC by 344.4% in the second quarter. Prudential Financial Inc. now owns 2,312,359 shares of the company’s stock valued at $59,058,000 after buying an additional 1,792,000 shares during the period. UBS Group AG raised 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 valued at $441,064,000 after buying an additional 1,716,501 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in Invesco PLC by 42.1% in the second quarter. Lord Abbett & CO. LLC now owns 4,967,980 shares of the company’s stock valued at $126,882,000 after buying an additional 1,472,930 shares during the period. 82.18% of the stock is currently owned by hedge funds and other institutional investors.
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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