Goldman Sachs has decided to maintain its Neutral rating of Invesco IVZ and lower its price target from $18.70 to $18.00.
Shares of Invesco are trading down 2.89% over the last 24 hours, at $17.98 per share.
A move to $18.00 would account for a 0.08% increase from the current share price.
Invesco provides investment-management services to retail (63% of managed assets) and institutional (37%) clients. At the end of September 2022, the firm had $1.323 trillion in assets under management spread among its equity (45% of AUM), balanced (5%), fixed-income (23%), alternative investment (14%), and money market (13%) operations. Passive products account for 31% of Invesco's total AUM, including 56% of the company's equity operations and 13% of its fixed-income platform. Invesco's U.S. retail business is one of the 10 largest nonproprietary fund complexes in the country. The firm also has a meaningful presence outside the U.S., with 31% of its AUM sourced from Canada (2%), the U.K. (3%), continental Europe, Africa, and the Middle East (10%), and Asia (16%).
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