Citigroup Downgrades Invesco (IVZ) to Neutral

Invesco (NYSE:IVZ) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Friday, The Fly reports.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America lowered shares of Invesco from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Monday, January 8th. JPMorgan Chase & Co. set a $45.00 target price on shares of Invesco and gave the stock a “buy” rating in a research note on Monday, January 8th. Morgan Stanley lowered shares of Invesco from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $40.00 to $39.00 in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada set a $47.00 target price on shares of Invesco and gave the stock a “buy” rating in a research note on Saturday, December 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.79.

Invesco (NYSE:IVZ) traded down $0.22 on Friday, reaching $37.86. 2,315,700 shares of the company’s stock were exchanged, compared to its average volume of 3,042,458. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50. Invesco has a twelve month low of $28.75 and a twelve month high of $38.42. The stock has a market cap of $15,510.00, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.03 and a beta of 1.80.

Invesco (NYSE:IVZ) last released its earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.05. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The business had revenue of $976.60 million for the quarter, compared to analyst estimates of $940.96 million. During the same period last year, the company posted $0.60 EPS. The business’s revenue was up 14.3% on a year-over-year basis. sell-side analysts forecast that Invesco will post 2.67 EPS for the current year.

In other news, insider Colin Meadows sold 54,215 shares of Invesco stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total transaction of $1,952,282.15. Following the sale, the insider now owns 164,420 shares of the company’s stock, valued at approximately $5,920,764.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of IVZ. Amundi Pioneer Asset Management Inc. increased its holdings in Invesco by 144.5% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 5,097,202 shares of the asset manager’s stock valued at $178,605,000 after purchasing an additional 3,012,871 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Invesco by 5,060.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,787,996 shares of the asset manager’s stock valued at $98,110,000 after purchasing an additional 2,733,970 shares during the last quarter. FMR LLC increased its holdings in Invesco by 137.5% in the 2nd quarter. FMR LLC now owns 2,959,243 shares of the asset manager’s stock valued at $104,135,000 after purchasing an additional 1,713,338 shares during the last quarter. Capital International Investors increased its holdings in Invesco by 9.2% in the 3rd quarter. Capital International Investors now owns 13,917,400 shares of the asset manager’s stock valued at $487,666,000 after purchasing an additional 1,169,200 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Invesco by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after purchasing an additional 1,092,898 shares during the last quarter. Hedge funds and other institutional investors own 81.31% of the company’s stock.

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Invesco Company Profile

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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