Invesco PLC (IVZ) Price Target Raised to $40.00 at Jefferies Group LLC
Invesco PLC (NYSE:IVZ) had its price target lifted by equities researchers at Jefferies Group LLC from $35.00 to $40.00 in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the asset manager’s stock. Jefferies Group LLC’s price target points to a potential upside of 11.36% from the company’s current price.
Several other equities research analysts have also issued reports on the stock. Credit Suisse Group reiterated a “hold” rating and issued a $34.00 price target on shares of Invesco PLC in a research note on Friday, April 7th. Goldman Sachs Group, Inc. (The) upgraded shares of Invesco PLC from a “neutral” rating to a “conviction-buy” rating and lifted their price target for the company from $30.00 to $37.00 in a research note on Wednesday, March 15th. Zacks Investment Research upgraded shares of Invesco PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. Citigroup Inc. upgraded shares of Invesco PLC from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $37.50 in a research note on Monday, June 5th. Finally, ValuEngine lowered shares of Invesco PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Invesco PLC has an average rating of “Buy” and an average price target of $36.29.
Invesco PLC (NYSE IVZ) opened at 35.92 on Tuesday. The firm’s 50-day moving average is $33.32 and its 200 day moving average is $31.84. Invesco PLC has a 52-week low of $24.34 and a 52-week high of $35.99. The firm has a market capitalization of $14.61 billion, a P/E ratio of 16.34 and a beta of 1.81.
Invesco PLC (NYSE:IVZ) last issued its quarterly earnings results on Thursday, April 27th. The asset manager reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Invesco PLC had a net margin of 18.94% and a return on equity of 12.51%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned $0.49 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities analysts anticipate that Invesco PLC will post $2.51 EPS for the current year.
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In related news, insider Philip Taylor sold 60,000 shares of Invesco PLC stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $32.40, for a total transaction of $1,944,000.00. Following the completion of the sale, the insider now owns 146,222 shares of the company’s stock, valued at approximately $4,737,592.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in IVZ. BlackRock Inc. increased its stake in shares of Invesco PLC by 2,611.3% in the first quarter. BlackRock Inc. now owns 32,067,091 shares of the asset manager’s stock valued at $982,213,000 after buying an additional 30,884,375 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of Invesco PLC during the fourth quarter valued at approximately $899,000. Russell Investments Group Ltd. bought a new stake in shares of Invesco PLC during the fourth quarter valued at approximately $2,392,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Invesco PLC during the fourth quarter valued at approximately $401,000. Finally, Quantbot Technologies LP increased its stake in shares of Invesco PLC by 474.2% in the first quarter. Quantbot Technologies LP now owns 111,611 shares of the asset manager’s stock valued at $3,418,000 after buying an additional 92,173 shares during the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.
About Invesco PLC
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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