The Goldman Sachs Group Lowers Invesco (NYSE:IVZ) Price Target to $14.00

Posted by Defense World Staff on Oct 27th, 2023

Invesco (NYSE:IVZ – Get Free Report) had its target price decreased by equities researchers at The Goldman Sachs Group from $15.50 to $14.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 8.53% from the company’s current price.

A number of other brokerages have also commented on IVZ. Royal Bank of Canada raised their price objective on shares of Invesco from $17.00 to $19.00 in a report on Friday, July 21st. StockNews.com started coverage on shares of Invesco in a report on Thursday, October 5th. They set a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Invesco from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Wednesday, October 11th. Jefferies Financial Group lowered their price target on shares of Invesco from $17.00 to $15.00 in a research note on Tuesday, October 10th. Finally, Citigroup lowered their price target on shares of Invesco from $19.00 to $15.75 and set a “neutral” rating on the stock in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and an average price target of $16.48.

Get Our Latest Stock Report on IVZ

Invesco Trading Up 2.5 %

Shares of NYSE IVZ opened at $12.90 on Wednesday. The company’s fifty day moving average is $14.48 and its 200-day moving average is $15.74. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 1.52 and a beta of 1.40. Invesco has a twelve month low of $12.48 and a twelve month high of $20.56. The company has a quick ratio of 5.15, a current ratio of 28.81 and a debt-to-equity ratio of 0.51.

Invesco (NYSE:IVZ – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The asset manager reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a net margin of 14.50% and a return on equity of 6.83%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Equities research analysts predict that Invesco will post 1.48 EPS for the current year.

Insider Transactions at Invesco

In other news, major shareholder Invesco Realty, Inc. acquired 796,323 shares of the stock in a transaction dated Monday, October 2nd. The shares were bought at an average cost of $25.12 per share, for a total transaction of $20,003,633.76. Following the purchase, the insider now directly owns 1,052,487 shares of the company’s stock, valued at $26,438,473.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Trian Fund Management L.P. boosted its holdings in shares of Invesco by 18.8% during the 1st quarter. Trian Fund Management L.P. now owns 54,034,034 shares of the asset manager’s stock worth $1,404,885,000 after buying an additional 8,560,175 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Invesco by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 52,105,335 shares of the asset manager’s stock worth $1,201,550,000 after buying an additional 6,384,917 shares during the period. BlackRock Inc. boosted its holdings in shares of Invesco by 5.6% during the 1st quarter. BlackRock Inc. now owns 47,752,801 shares of the asset manager’s stock worth $783,146,000 after buying an additional 2,528,731 shares during the period. State Street Corp boosted its holdings in shares of Invesco by 58.2% during the 3rd quarter. State Street Corp now owns 25,414,143 shares of the asset manager’s stock worth $348,174,000 after buying an additional 9,345,810 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Invesco by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,600,851 shares of the asset manager’s stock worth $161,005,000 after buying an additional 251,010 shares during the period. 66.27% of the stock is currently owned by institutional investors and hedge funds.

Invesco Company Profile

(Get Free Report)

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.