How Is Invesco's Stock Performance Compared to Other Financial Stocks?
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Invesco Ltd. (IVZ), headquartered in Atlanta, Georgia, is a publicly owned investment manager. Valued at $6.8 billion by market cap, the company offers equity, fixed income, separate accounts, exchange traded, collective, and balance mutual funds.
Companies worth $2 billion or more are generally described as “mid-cap stocks,” and IVZ perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the asset management industry. IVZ’s strengths lie in its diverse investment capabilities which cater to various investor preferences and market conditions. The firm's adaptability is demonstrated by its offering of both active and passive products. With a presence in over 20 countries and clients in 120 nations, Invesco's global reach diversifies revenue streams and provides a broad market perspective. Its strong brand and reputation enable it to attract and retain clients worldwide.
Despite its notable strength, IVZ slipped 22% from its 52-week high of $19.55, achieved on Jan. 30. Over the past three months, IVZ stock declined 4.5%, underperforming the Financial Select Sector SPDR Fund’s (XLF) 1.9% gains during the same time frame.
In the longer term, shares of IVZ dipped 12.8% on a YTD basis but climbed 1.1% over the past 52 weeks, underperforming XLF’s YTD gains of 6.4% and 24.5% returns over the last year.
To confirm the bearish trend, IVZ has been trading below its 200-day moving average since early March. However, the stock is trading above its 50-day moving average since early May, with slight fluctuations.
On Apr. 22, IVZ shares closed up more than 8% after reporting its Q1 results. Its adjusted EPS of $0.44 beat Wall Street expectations of $0.39. The company’s revenue stood at $1.5 billion, up 3.7% year over year.
IVZ’s rival, Cohen & Steers, Inc. (CNS) shares have lagged behind the stock, with 17.9% losses on a YTD basis but outpaced the stock with a 6.6% uptick over the past 52 weeks.
Wall Street analysts are cautious on IVZ’s prospects. The stock has a consensus “Hold” rating from the 17 analysts covering it, and the mean price target of $16.05 suggests a potential upside of 5.2% from current price levels.
On the date of publication, Neha Panjwani 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.