Invesco’s March Assets Rise On Favorable Market Returns, Inflows

Invesco announced that its preliminary assets under management (AUM) during the month ended March 31 rose 0.9% to $1.4 trillion from the prior month, mainly driven by favorable market returns, which increased AUM by $10 billion, and positive inflows.

Invesco (IVZ) recorded total net inflows of $6.4 billion, with foreign exchange movements decreasing AUM by $4.3 billion. Shares of the Hamilton-based investment manager increased 1.5% to close at $26.71 on April 12.

The company’s equity AUM inched up 2.6% from the prior month to $725 billion. Fixed income AUM grew marginally to $301.6 billion, while alternatives AUM declined 1.7% to $176.6 billion. Meanwhile, money market AUM dropped 1.5% to $115.7 billion. (See Invesco stock analysis on TipRanks)

On April 9, Deutsche Bank analyst Brian Bedell lifted the stock’s price target to $31 (165 upside potential) from $28 and maintained a Buy rating. According to Bedell, the risk/return dynamics are “heavily favoring” the trust banks, which are sensitive to interest rates and are about to report 1Q results.

The rest of the Street is sidelined on the stock with a Hold consensus rating, based on 2 Buys, 5 Holds, and 3 Sells. The average analyst price target of $23.80 implies 10.9% downside potential to current levels. Shares have appreciated 57.6% so far this year.

TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Invesco is currently Neutral, as 7 hedge funds decreased their cumulative holdings of the stock by 769,200 shares in the last quarter.

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