Cwm LLC Cuts Stake in Invesco Ltd. $IVZ

Key Points

• Cwm LLC reduced its stake in Invesco Ltd. by 22.9% during the second quarter, owning 125,949 shares valued at approximately $1.986 million after the sale.
• Invesco's recent earnings report showed $0.36 EPS, which missed analysts' expectations of $0.41 EPS, although revenue increased by 2.2% year-over-year.
• Invesco has announced a quarterly dividend of $0.21, yielding 3.7% with a payout ratio of 90.32%.

Cwm LLC cut its stake in Invesco Ltd. (NYSE:IVZ - Free Report) by 22.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,949 shares of the asset manager's stock after selling 37,485 shares during the quarter. Cwm LLC's holdings in Invesco were worth $1,986,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IVZ. Jump Financial LLC increased its position in shares of Invesco by 30.2% during the first quarter. Jump Financial LLC now owns 231,218 shares of the asset manager's stock worth $3,508,000 after acquiring an additional 53,608 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Invesco by 8.5% during the first quarter. New York State Teachers Retirement System now owns 405,269 shares of the asset manager's stock worth $6,148,000 after acquiring an additional 31,643 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Invesco by 177.3% during the first quarter. Principal Financial Group Inc. now owns 1,398,364 shares of the asset manager's stock worth $21,213,000 after acquiring an additional 894,105 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Invesco by 25.7% during the first quarter. Nisa Investment Advisors LLC now owns 199,155 shares of the asset manager's stock worth $3,021,000 after acquiring an additional 40,665 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Invesco by 24.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,488 shares of the asset manager's stock worth $296,000 after acquiring an additional 3,778 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Price Performance

NYSE:IVZ opened at $22.80 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50-day simple moving average of $22.31 and a 200 day simple moving average of $18.08. Invesco Ltd. has a one year low of $11.60 and a one year high of $24.54. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 0.81 and a beta of 1.66.

Invesco (NYSE:IVZ - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The asset manager reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). Invesco had a net margin of 10.68% and a return on equity of 8.60%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business's revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that Invesco Ltd. will post 1.87 EPS for the current fiscal year.

Invesco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, August 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Invesco's payout ratio is presently 90.32%.

Insider Buying and Selling

In other Invesco news, Director Stephanie Butcher sold 103,192 shares of Invesco stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $22.12, for a total value of $2,282,607.04. Following the completion of the transaction, the director directly owned 29,855 shares in the company, valued at $660,392.60. The trade was a 77.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI lifted their target price on Invesco from $24.00 to $26.00 and gave the stock an "in-line" rating in a research report on Thursday, October 9th. Wells Fargo & Company raised Invesco from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $14.50 to $18.00 in a research report on Friday, July 11th. The Goldman Sachs Group lifted their target price on Invesco from $16.25 to $16.75 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Bank of America lifted their price target on Invesco from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, October 2nd. Finally, Barclays lifted their price target on Invesco from $17.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $21.72.

Invesco 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.

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