Invesco (NYSE:IVZ) Price Target Lowered to $16.00 at Citigroup

Invesco (NYSE:IVZ) had its price objective lowered by equities researchers at Citigroup from $20.00 to $16.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Citigroup’s target price suggests a potential upside of 6.27% from the company’s previous close.

IVZ has been the subject of a number of other research reports. Royal Bank of Canada started coverage on shares of Invesco in a report on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Invesco from $17.00 to $19.50 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. BMO Capital Markets increased their price target on Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Morgan Stanley upped their price objective on Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Argus boosted their target price on Invesco from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Invesco currently has a consensus rating of “Hold” and a consensus target price of $19.66.

Invesco Price Performance

NYSE:IVZ traded down $0.13 on Monday, reaching $15.06. The stock had a trading volume of 987,950 shares, compared to its average volume of 4,055,587. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $6.74 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. Invesco has a 1-year low of $14.16 and a 1-year high of $19.55. The stock has a fifty day moving average price of $17.14 and a 200-day moving average price of $17.44.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. Research analysts forecast that Invesco will post 1.87 EPS for the current year.

Hedge Funds Weigh In On Invesco

Several institutional investors and hedge funds have recently modified their holdings of IVZ. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Invesco by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 140,964 shares of the asset manager’s stock worth $2,464,000 after purchasing an additional 58,361 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in Invesco by 10.4% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 30,868 shares of the asset manager’s stock valued at $540,000 after buying an additional 2,920 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Invesco in the 4th quarter valued at approximately $3,297,000. LifeWealth Investments LLC bought a new stake in shares of Invesco during the 4th quarter worth approximately $215,000. Finally, Mackenzie Financial Corp boosted its position in shares of Invesco by 416.1% during the 4th quarter. Mackenzie Financial Corp now owns 281,427 shares of the asset manager’s stock worth $4,919,000 after acquiring an additional 226,902 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

About Invesco

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.