Invesco PLC (IVZ) Downgraded to Sell at BidaskClub
Invesco PLC (NYSE:IVZ) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.
IVZ has been the subject of several other research reports. Royal Bank Of Canada assumed coverage on shares of Invesco PLC in a research report on Thursday, June 29th. They issued an “outperform” rating and a $41.00 target price for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $41.00 price objective on shares of Invesco PLC in a report on Sunday, July 30th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $36.00 price objective on shares of Invesco PLC in a report on Sunday, July 2nd. ValuEngine upgraded shares of Invesco PLC from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Zacks Investment Research cut shares of Invesco PLC from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Invesco PLC has an average rating of “Buy” and a consensus price target of $37.29.
Shares of Invesco PLC (IVZ) traded up 0.27% during midday trading on Friday, reaching $32.86. 2,974,908 shares of the company were exchanged. Invesco PLC has a 52-week low of $27.46 and a 52-week high of $36.84. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of 14.65 and a beta of 1.80. The company’s 50-day moving average price is $35.10 and its 200 day moving average price is $32.87.
Invesco PLC (NYSE:IVZ) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.64 EPS for the quarter, topping the consensus estimate of $0.61 by $0.03. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The firm had revenue of $906.30 million during the quarter, compared to analysts’ expectations of $891.19 million. During the same quarter in the prior year, the firm earned $0.56 EPS. Invesco PLC’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Invesco PLC will post $2.54 earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Invesco PLC by 2.7% in the second quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after buying an additional 1,092,898 shares in the last quarter. BlackRock Inc. raised its stake in 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 in the last quarter. State Street Corp raised its stake in Invesco PLC by 1.2% in the first quarter. State Street Corp now owns 19,457,316 shares of the asset manager’s stock valued at $595,977,000 after buying an additional 240,087 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Invesco PLC by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 10,981,317 shares of the asset manager’s stock valued at $336,358,000 after buying an additional 210,558 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Invesco PLC by 28.7% in the first quarter. American Century Companies Inc. now owns 9,005,772 shares of the asset manager’s stock valued at $275,847,000 after buying an additional 2,007,736 shares in the last quarter. 79.20% 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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