Invesco (IVZ) Downgraded to “Equal Weight” at Morgan Stanley

Invesco (NYSE:IVZ) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $39.00 target price on the asset manager’s stock. Morgan Stanley’s price target indicates a potential upside of 7.29% from the stock’s current price.

Several other equities research analysts also recently weighed in on IVZ. ValuEngine upgraded shares of Invesco from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 target price on shares of Invesco in a research note on Tuesday, October 3rd. Citigroup raised their target price on shares of Invesco from $38.50 to $39.50 and gave the company a “buy” rating in a research note on Tuesday, October 3rd. Goldman Sachs Group downgraded shares of Invesco from a “buy” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $36.00 in a research note on Thursday, September 28th. Finally, UBS Group raised their target price on shares of Invesco from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $39.17.

Shares of Invesco (NYSE IVZ) traded down $0.19 during mid-day trading on Wednesday, reaching $36.35. 2,815,900 shares of the company traded hands, compared to its average volume of 2,154,850. The stock has a market capitalization of $14,820.00, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.05 and a beta of 1.80. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. Invesco has a 12 month low of $28.75 and a 12 month high of $37.85.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The company 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 revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. analysts anticipate that Invesco will post 2.66 EPS for the current fiscal year.

In other news, insider Colin Meadows sold 54,215 shares of Invesco stock in a transaction 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 completion of the sale, the insider now directly owns 164,420 shares in the company, valued at $5,920,764.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.

Several large investors have recently bought and sold shares of IVZ. Beach Investment Management LLC. purchased a new position in shares of Invesco during the second quarter worth $1,390,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Invesco by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,344,769 shares of the asset manager’s stock worth $47,323,000 after purchasing an additional 87,755 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Invesco by 14.4% during the second quarter. Victory Capital Management Inc. now owns 159,927 shares of the asset manager’s stock worth $5,628,000 after purchasing an additional 20,112 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Invesco during the second quarter worth $331,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Invesco by 1.1% during the second quarter. Principal Financial Group Inc. now owns 625,874 shares of the asset manager’s stock worth $22,024,000 after purchasing an additional 6,632 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

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About Invesco

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.

Analyst Recommendations for Invesco (NYSE:IVZ)

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