Invesco PLC (IVZ) PT Raised to $40.00 at Wells Fargo & Company
Invesco PLC (NYSE:IVZ) had its price objective boosted by analysts at Wells Fargo & Company from $38.00 to $40.00 in a research note issued on Wednesday. The brokerage currently has an “outperform” rating on the asset manager’s stock. Wells Fargo & Company’s price objective would indicate a potential upside of 10.22% from the stock’s current price.
IVZ has been the topic of several other reports. Goldman Sachs Group, Inc. (The) cut shares of Invesco PLC from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $36.00 in a research report on Thursday, September 28th. ValuEngine cut shares of Invesco PLC from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $39.00 target price on shares of Invesco PLC in a research report on Tuesday, October 3rd. BidaskClub cut shares of Invesco PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $41.00 target price on shares of Invesco PLC in a research report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $38.04.
Invesco PLC (NYSE:IVZ) traded up 0.58% during trading on Wednesday, reaching $36.29. 2,658,524 shares of the company’s stock traded hands. Invesco PLC has a 1-year low of $27.46 and a 1-year high of $36.83. The firm has a 50 day moving average of $33.60 and a 200 day moving average of $33.39. The firm has a market capitalization of $14.77 billion, a PE ratio of 16.18 and a beta of 1.80.
Invesco PLC (NYSE:IVZ) last released its earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $891.19 million. During the same period last year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Invesco PLC will post $2.56 EPS for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. W. E. Donoghue & Co. LLC purchased a new stake in shares of Invesco PLC during the second quarter valued at approximately $16,514,000. Griffin Asset Management Inc. purchased a new stake in shares of Invesco PLC during the second quarter valued at approximately $380,000. Sentry Investment Management LLC raised its stake in shares of Invesco PLC by 0.9% during the second quarter. Sentry Investment Management LLC now owns 25,726 shares of the asset manager’s stock valued at $905,000 after purchasing an additional 229 shares during the period. Toronto Dominion Bank raised its stake in shares of Invesco PLC by 26.5% during the second quarter. Toronto Dominion Bank now owns 137,792 shares of the asset manager’s stock valued at $4,848,000 after purchasing an additional 28,833 shares during the period. Finally, Koch Industries Inc. purchased a new stake in shares of Invesco PLC during the second quarter valued at approximately $446,000. Institutional investors own 79.79% of the company’s stock.
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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