Citigroup Inc. Boosts Invesco PLC (IVZ) Price Target to $44.00
Invesco PLC (NYSE:IVZ) had its price objective raised by stock analysts at Citigroup Inc. from $43.00 to $44.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the asset manager’s stock. Citigroup Inc.’s price target would suggest a potential upside of 19.27% from the stock’s previous close.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Invesco PLC from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Wells Fargo & Company lifted their target price on Invesco PLC from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $39.00 target price on shares of Invesco PLC in a research note on Tuesday, October 3rd. ValuEngine raised Invesco PLC from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, UBS AG lifted their target price on Invesco PLC from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $38.42.
Invesco PLC (NYSE:IVZ) traded down 0.70% during midday trading on Friday, hitting $36.89. The stock had a trading volume of 1,788,348 shares. The firm has a market cap of $15.01 billion, a PE ratio of 16.45 and a beta of 1.80. The stock has a 50-day moving average price of $35.09 and a 200 day moving average price of $33.93. Invesco PLC has a one year low of $27.46 and a one year high of $37.75.
Invesco PLC (NYSE:IVZ) last announced its earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $976.60 million for the quarter, compared to the consensus estimate of $940.96 million. Invesco PLC had a return on equity of 13.30% and a net margin of 18.99%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. On average, analysts predict that Invesco PLC will post $2.58 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of IVZ. OppenheimerFunds Inc. grew its holdings in shares of Invesco PLC by 9.0% during the first quarter. OppenheimerFunds Inc. now owns 21,852 shares of the asset manager’s stock valued at $669,000 after buying an additional 1,809 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Invesco PLC in the first quarter valued at about $20,360,000. Bank of Nova Scotia grew its stake in Invesco PLC by 2.9% in the first quarter. Bank of Nova Scotia now owns 9,586 shares of the asset manager’s stock valued at $294,000 after purchasing an additional 270 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Invesco PLC by 1.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 50,672 shares of the asset manager’s stock valued at $1,552,000 after purchasing an additional 637 shares in the last quarter. Finally, First American Bank grew its stake in Invesco PLC by 6.6% in the second quarter. First American Bank now owns 49,605 shares of the asset manager’s stock valued at $1,746,000 after purchasing an additional 3,068 shares in the last quarter. Institutional investors and hedge funds own 79.82% 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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