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Invesco Wants to Break Open Its $355 Billion Piggy Bank

Invesco Wants to Break Open Its $355 Billion Piggy Bank

Bloomberg7 days ago
Welcome to ETF IQ, a weekly newsletter dedicated to the $14 trillion global ETF industry. I'm Bloomberg News reporter and anchor Katie Greifeld.
It's one of the biggest ironies in asset management: famed tech fund QQQ is the most profitable product in the $11.7 trillion industry, yet Invesco Ltd. earns next to nothing for running it. Now, the firm is asking shareholders to change that.
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Invesco (IVZ) Receives a Hold from RBC Capital
Invesco (IVZ) Receives a Hold from RBC Capital

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Invesco (IVZ) Receives a Hold from RBC Capital

RBC Capital analyst Kenneth Lee maintained a Hold rating on Invesco on July 23 and set a price target of $22.00. The company's shares closed yesterday at $21.43. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Lee covers the Financial sector, focusing on stocks such as Invesco, OneMain Holdings, and Ameriprise Financial. According to TipRanks, Lee has an average return of 18.8% and a 75.65% success rate on recommended stocks. In addition to RBC Capital, Invesco also received a Hold from Barclays's Benjamin Budish in a report issued on July 23. However, yesterday, TR | OpenAI – 4o reiterated a Buy rating on Invesco (NYSE: IVZ). Based on Invesco's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.53 billion and a net profit of $230.3 million. In comparison, last year the company earned a revenue of $1.48 billion and had a net profit of $200.7 million

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