Barclays Maintains an 'Overweight' on Invesco (IVZ); November AUM Reflects Risk Aversion
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Price: $32.55 +1.24%
Rating Summary:
9 Buy, 16 Hold, 0 Sell
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Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on Invesco (NYSE: IVZ) price target of $27.00.
Barclays analyst says, "IVZ posted $622bn in AUM for the end of November, which compares to our $636bn year-end forecast. We calculate the sequential $13bn of AUM m/m decrease included blended market losses of ($10bn) or (1.6%), suggesting total long-term outflows of about ($1bn) or (0.2%) across active and passive. This is consistent with management's comment that the company's active long-term net flows were slightly negative, which we believe reflects broader investors' risk aversion during the month. Additionally, the company disclosed money market inflows of $0.5bn and a foreign exchange impact of ($2.9bn). IVZ also posted $622bn in average AUM QTD, which is slightly ahead of our 4Q published estimate of $621bn."
For an analyst ratings summary and ratings history on Invesco click here. For more ratings news on Invesco click here.
Shares of Invesco closed at $20.02 yesterday.
Barclays analyst says, "IVZ posted $622bn in AUM for the end of November, which compares to our $636bn year-end forecast. We calculate the sequential $13bn of AUM m/m decrease included blended market losses of ($10bn) or (1.6%), suggesting total long-term outflows of about ($1bn) or (0.2%) across active and passive. This is consistent with management's comment that the company's active long-term net flows were slightly negative, which we believe reflects broader investors' risk aversion during the month. Additionally, the company disclosed money market inflows of $0.5bn and a foreign exchange impact of ($2.9bn). IVZ also posted $622bn in average AUM QTD, which is slightly ahead of our 4Q published estimate of $621bn."
For an analyst ratings summary and ratings history on Invesco click here. For more ratings news on Invesco click here.
Shares of Invesco closed at $20.02 yesterday.
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