Cacti Asset Management LLC Cuts Stock Position in Invesco Ltd. $IVZ

Cacti Asset Management LLC cut its position in shares of Invesco Ltd. (NYSE:IVZ) by 42.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,630 shares of the asset manager’s stock after selling 140,387 shares during the quarter. Cacti Asset Management LLC’s holdings in Invesco were worth $4,377,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IVZ. Capital A Wealth Management LLC boosted its stake in Invesco by 4,802.9% in the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock worth $26,000 after buying an additional 1,633 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Invesco in the 1st quarter worth approximately $32,000. IFP Advisors Inc boosted its stake in shares of Invesco by 55.7% in the 2nd quarter. IFP Advisors Inc now owns 2,127 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 761 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Invesco during the 1st quarter valued at $41,000. Finally, UMB Bank n.a. raised its position in Invesco by 45.8% in the 2nd quarter. UMB Bank n.a. now owns 2,623 shares of the asset manager’s stock worth $41,000 after purchasing an additional 824 shares during the period. Institutional investors own 66.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IVZ. Barclays boosted their price target on shares of Invesco from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday. Bank of America increased their target price on Invesco from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Royal Bank Of Canada raised their price target on Invesco from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Morgan Stanley reaffirmed a “positive” rating on shares of Invesco in a research note on Monday, October 6th. Finally, Fundamental Research set a $27.00 price objective on Invesco in a research note on Friday, October 31st. Five analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.97.

Invesco Stock Down 2.7%

Shares of Invesco stock opened at $26.27 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. Invesco Ltd. has a 12-month low of $11.60 and a 12-month high of $27.31. The company has a market cap of $11.69 billion, a P/E ratio of 17.87, a PEG ratio of 0.64 and a beta of 1.66. The company’s fifty day simple moving average is $23.93 and its two-hundred day simple moving average is $20.95.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, October 28th. The asset manager reported $0.61 EPS for the quarter, topping the consensus estimate of $0.44 by $0.17. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Invesco had a net margin of 14.15% and a return on equity of 9.11%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. Research analysts anticipate that Invesco Ltd. will post 1.87 EPS for the current year.

Invesco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th were issued a $0.21 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.2%. Invesco’s dividend payout ratio (DPR) is 57.14%.

Insiders Place Their Bets

In other Invesco news, Director Douglas J. Sharp sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $23.56, for a total transaction of $3,769,600.00. Following the transaction, the director owned 192 shares in the company, valued at approximately $4,523.52. This represents a 99.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.21% of the company’s stock.

Invesco Company Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.