Cresset Asset Management LLC Invests $659,000 in Invesco Ltd. $IVZ

Cresset Asset Management LLC bought a new stake in Invesco Ltd. (NYSE:IVZ) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,723 shares of the asset manager’s stock, valued at approximately $659,000.

Several other hedge funds have also modified their holdings of the stock. CNB Bank purchased a new position in Invesco in the 3rd quarter worth approximately $26,000. Sentry Investment Management LLC purchased a new stake in shares of Invesco during the third quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new stake in shares of Invesco during the third quarter valued at approximately $30,000. Quent Capital LLC acquired a new position in shares of Invesco during the third quarter worth $37,000. Finally, Capital A Wealth Management LLC lifted its position in shares of Invesco by 4,802.9% during the second quarter. Capital A Wealth Management LLC now owns 1,667 shares of the asset manager’s stock worth $26,000 after purchasing an additional 1,633 shares in the last quarter. 66.09% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Price Performance

Shares of NYSE IVZ opened at $23.92 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of -14.95, a price-to-earnings-growth ratio of 0.46 and a beta of 1.68. Invesco Ltd. has a twelve month low of $11.60 and a twelve month high of $29.61. The business has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $24.92.

Invesco (NYSE:IVZ) last announced its quarterly earnings data on Tuesday, January 27th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Invesco had a positive return on equity of 10.26% and a negative net margin of 6.92%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share. As a group, equities research analysts expect that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Friday, February 13th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, February 13th. Invesco’s dividend payout ratio is -52.50%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IVZ shares. JPMorgan Chase & Co. raised their price target on shares of Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. BMO Capital Markets boosted their price objective on shares of Invesco from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Barclays decreased their price objective on shares of Invesco from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 28th. Morgan Stanley set a $29.00 target price on Invesco in a research note on Monday, January 26th. Finally, Zacks Research lowered Invesco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.46.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.