/Invesco%20Ltd%20HQ%20building-by%20JHVEPhoto%20via%20Shutterstock.jpg)
Based in Atlanta, Georgia, Invesco Ltd. (IVZ) is an independent investment manager and offers a wide range of investment products and services. Valued at a market cap of $7.9 billion, the company provides its services to retail clients, institutional clients, high-net-worth clients, public entities, non-profit organizations, pension funds, financial institutions, and sovereign wealth funds.
Companies valued at less than $10 billion are generally described as “mid-cap” stocks, and Invesco fits right into that category. With the help of its over 8,000 employees across 26 countries, the company manages over $1.4 trillion in assets and separate client-focused equity and fixed-income portfolios. It also launches a wide range of mutual funds and exchange-traded funds.
Shares of IVZ are trading nearly 4.4% below their 52-week high of $18.28, which they reached on Jan. 8. The asset management company has gained 16.8% over the past three months, surpassing the broader Nasdaq Composite’s ($NASX) 2.3% return over the same time frame.
However, in the longer term, IVZ stock is down 2.1% on a YTD basis, lagging behind NASX’s 20.8% gains. Shares of IVZ have gained 20.4% over the past 52 weeks, underperforming NASX’s 37.2% returns over the same time frame.
IVZ has been trading above its 200-day and 50-day moving average since mid-September to confirm its recent bullish trend.
On Jul. 29, shares of IVZ gained 1.9% following its Q2 earnings release as its adjusted earnings of $0.43 per share surpassed the Wall Street estimates of $0.40, and its revenue met the consensus estimates of $1.09 billion. The outperformance was primarily driven by a decline in adjusted expenses and an 11.7% increase in Q2 average Asset Under Management (AUM).
IVZ has lagged behind its rival, BlackRock, Inc. (BLK), which has gained 45.6% over the past 52 weeks and 15.9% on a YTD basis.
Despite IVZ’s recent outperformance relative to the broader market, analysts remain cautious about its prospects. The stock has a consensus rating of “Hold” from 16 analysts in coverage, and as of writing, the stock is trading above its mean price target of $17.32.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
