Invesco PLC (IVZ) Given “Buy” Rating at Keefe, Bruyette & Woods
Invesco PLC (NYSE:IVZ)‘s stock had its “buy” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday. They presently have a $39.00 price objective on the asset manager’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 9.06% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Morgan Stanley restated an “overweight” rating and set a $38.00 target price (up from $36.00) on shares of Invesco PLC in a research report on Monday, July 10th. ValuEngine raised Invesco PLC from a “hold” rating to a “buy” rating in a report on Monday. Citigroup Inc. raised their price target on Invesco PLC from $38.50 to $39.50 and gave the company a “buy” rating in a report on Tuesday. Jefferies Group LLC raised their price target on Invesco PLC from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded Invesco PLC from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.46.
Invesco PLC (NYSE:IVZ) traded up 0.65% during mid-day trading on Tuesday, reaching $35.76. The company had a trading volume of 2,235,521 shares. Invesco PLC has a 12-month low of $27.46 and a 12-month high of $36.84. The stock has a market capitalization of $14.55 billion, a P/E ratio of 15.94 and a beta of 1.80. The stock has a 50 day moving average price of $33.23 and a 200-day moving average price of $33.20.
Invesco PLC (NYSE:IVZ) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $906.30 million during 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 business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. Equities analysts anticipate that Invesco PLC will post $2.54 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in IVZ. KBC Group grew its holdings in shares of Invesco PLC by 196.5% during the 3rd quarter. KBC Group now owns 106,130 shares of the asset manager’s stock valued at $3,315,000 after purchasing an additional 70,331 shares during the last quarter. Eagle Asset Management increased its holdings in shares of Invesco PLC by 94.7% in the third quarter. Eagle Asset Management now owns 247,494 shares of the asset manager’s stock worth $7,728,000 after buying an additional 120,371 shares during the period. Community Trust & Investment Company purchased a new position in shares of Invesco PLC in the fourth quarter worth about $6,408,000. Charter Trust Company increased its holdings in shares of Invesco PLC by 13.1% in the fourth quarter. Charter Trust Company now owns 8,691 shares of the asset manager’s stock worth $291,000 after buying an additional 1,010 shares during the period. Finally, Cullinan Associates increased its holdings in shares of Invesco PLC by 286.1% in the fourth quarter. Cullinan Associates now owns 122,100 shares of the asset manager’s stock worth $4,088,000 after buying an additional 90,475 shares during the period. 79.79% of the stock is owned by institutional investors.
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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