Invesco (NYSE:IVZ) Downgraded to Neutral at JPMorgan Chase & Co.

Invesco (NYSE:IVZ) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

IVZ has been the subject of several other reports. Jefferies Financial Group cut Invesco from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $24.00 to $23.00 in a research report on Friday, June 7th. Citigroup set a $20.00 price objective on Invesco and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Barclays set a $21.00 price objective on Invesco and gave the stock a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research cut Invesco from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, Deutsche Bank set a $21.00 price objective on Invesco and gave the stock a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. Invesco presently has an average rating of “Hold” and a consensus price target of $22.36.

NYSE:IVZ opened at $17.57 on Thursday. The stock has a 50-day simple moving average of $16.70 and a 200-day simple moving average of $19.42. The stock has a market cap of $7.71 billion, a P/E ratio of 7.23, a P/E/G ratio of 0.80 and a beta of 1.53. Invesco has a 1 year low of $15.15 and a 1 year high of $24.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.45 and a current ratio of 1.45.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Thursday, July 25th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.08. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Invesco had a return on equity of 10.23% and a net margin of 11.45%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, equities research analysts predict that Invesco will post 2.44 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group raised its stake in shares of Invesco by 196.5% during the 3rd quarter. KBC Group now owns 106,130 shares of the asset manager’s stock worth $3,315,000 after buying an additional 70,331 shares in the last quarter. Eagle Asset Management increased its stake in Invesco by 94.7% in the 3rd quarter. Eagle Asset Management now owns 247,494 shares of the asset manager’s stock valued at $7,728,000 after purchasing an additional 120,371 shares in the last quarter. Community Trust & Investment Company purchased a new position in Invesco in the 4th quarter valued at approximately $6,408,000. Charter Trust Company increased its stake in Invesco by 13.1% in the 4th quarter. Charter Trust Company now owns 8,691 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Cullinan Associates increased its stake in Invesco by 286.1% in the 4th quarter. Cullinan Associates now owns 122,100 shares of the asset manager’s stock valued at $4,088,000 after purchasing an additional 90,475 shares in the last quarter. 67.89% of the stock is owned by hedge funds and other institutional investors.

Invesco Company Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.

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