Invesco (NYSE:IVZ)‘s stock had its “hold” rating reissued by analysts at Credit Suisse Group in a report released on Friday, AnalystRatings.com reports. They currently have a $10.00 target price on the asset manager’s stock. Credit Suisse Group’s target price would suggest a potential downside of 0.40% from the company’s previous close.
Several other research firms have also issued reports on IVZ. Wells Fargo & Co decreased their target price on Invesco from $9.50 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. ValuEngine raised Invesco from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Royal Bank of Canada increased their target price on Invesco from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Thursday. Zacks Investment Research lowered Invesco from a “hold” rating to a “sell” rating and set a $8.00 target price on the stock. in a research note on Monday, April 6th. Finally, Morgan Stanley increased their target price on Invesco from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 2nd. Five analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $10.44.
Shares of NYSE IVZ traded down $0.06 during mid-day trading on Friday, reaching $10.04. 6,865,878 shares of the company’s stock were exchanged, compared to its average volume of 5,446,305. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.10 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.71 and a current ratio of 1.71. Invesco has a 52-week low of $6.38 and a 52-week high of $19.37. The company’s 50-day moving average is $10.58 and its 200-day moving average is $11.66.
Several hedge funds and other institutional investors have recently modified their holdings of IVZ. Prudential PLC acquired a new stake in shares of Invesco during the 1st quarter worth about $43,899,000. Norges Bank acquired a new stake in shares of Invesco during the 4th quarter worth about $69,260,000. Contrarius Investment Management Ltd acquired a new stake in shares of Invesco during the 1st quarter worth about $27,675,000. Bank of New York Mellon Corp raised its position in shares of Invesco by 34.8% during the 1st quarter. Bank of New York Mellon Corp now owns 11,814,228 shares of the asset manager’s stock worth $107,274,000 after acquiring an additional 3,047,716 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Invesco by 42.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 3,789,361 shares of the asset manager’s stock worth $34,407,000 after acquiring an additional 1,126,953 shares in the last quarter. 65.21% of the stock is currently owned by institutional investors and hedge funds.
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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