Zacks Investment Research lowered shares of Invesco (NYSE:IVZ) from a buy rating to a hold rating in a research report sent to investors on Monday morning.
According to Zacks, “Shares of Invesco have significantly underperformed the industry over the last six months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the trailing four quarters. With an aim to enhance its exchange-traded funds (ETF) operation, the company inked a deal to acquire the ETF business of Guggenheim Partners LLC. Also, strong balance sheet position along with cost savings efforts, improving assets under management (AUM) and diverse product offerings are likely to continue supporting growth. However, high-debt levels of the company might adversely affect its profitability in the long run. Further, amortization of goodwill and intangible assets remains a near-term concern for Invesco.”
IVZ has been the topic of a number of other reports. Royal Bank of Canada set a $47.00 price target on shares of Invesco and gave the stock a buy rating in a research report on Saturday, December 16th. ValuEngine upgraded shares of Invesco from a hold rating to a buy rating in a research report on Wednesday, December 6th. Morgan Stanley lowered shares of Invesco from an overweight rating to an equal weight rating and lowered their price target for the stock from $40.00 to $39.00 in a research report on Wednesday, January 3rd. Wells Fargo & Co boosted their price target on shares of Invesco from $38.00 to $40.00 and gave the stock an outperform rating in a research report on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods restated a buy rating and set a $39.00 price target on shares of Invesco in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Invesco has a consensus rating of Hold and an average price target of $39.79.
Invesco (NYSE:IVZ) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $976.60 million for the quarter, compared to analyst estimates of $940.96 million. Invesco had a net margin of 18.99% and a return on equity of 13.02%. Invesco’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. equities analysts expect that Invesco will post 2.66 EPS for the current fiscal year.
In other Invesco news, insider Colin Meadows sold 54,215 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total value of $1,952,282.15. Following the transaction, the insider now directly owns 164,420 shares in the company, valued at approximately $5,920,764.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.
A number of large investors have recently bought and sold shares of IVZ. Sun Life Financial INC acquired a new position in Invesco in the 3rd quarter valued at about $145,000. Valeo Financial Advisors LLC acquired a new position in Invesco in the 3rd quarter valued at about $160,000. C M Bidwell & Associates Ltd. acquired a new position in Invesco in the 2nd quarter valued at about $185,000. ETRADE Capital Management LLC acquired a new position in Invesco in the 3rd quarter valued at about $205,000. Finally, Financial Counselors Inc. acquired a new position in Invesco in the 2nd quarter valued at about $215,000. Institutional investors own 81.30% of the company’s stock.
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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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