Invesco PLC (NYSE:IVZ)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $35.98, but opened at $36.84. Invesco PLC shares last traded at $37.15, with a volume of 2,334,045 shares trading hands.
The asset manager reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.05. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The company had revenue of $976.60 million for the quarter, compared to analyst estimates of $940.96 million. During the same quarter in the prior year, the business posted $0.60 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Tuesday, November 14th will be issued a $0.29 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.14%. Invesco PLC’s dividend payout ratio is presently 52.02%.
IVZ has been the topic of a number of analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 target price on shares of Invesco PLC in a report on Tuesday, October 3rd. Wells Fargo & Company upped their target price on shares of Invesco PLC from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Invesco PLC from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) lowered shares of Invesco PLC from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $38.00 to $36.00 in a report on Thursday, September 28th. Finally, ValuEngine lowered shares of Invesco PLC from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $38.42.
Institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in shares of Invesco PLC by 7.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,344,769 shares of the asset manager’s stock valued at $47,323,000 after acquiring an additional 87,755 shares during the period. Eaton Vance Management grew its position in shares of Invesco PLC by 247.2% during the 2nd quarter. Eaton Vance Management now owns 452,597 shares of the asset manager’s stock valued at $15,927,000 after acquiring an additional 322,230 shares during the period. Wells Fargo & Company MN grew its position in shares of Invesco PLC by 17.3% during the 2nd quarter. Wells Fargo & Company MN now owns 1,300,168 shares of the asset manager’s stock valued at $45,754,000 after acquiring an additional 192,018 shares during the period. Vanguard Group Inc. grew its position in shares of Invesco PLC by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after acquiring an additional 1,092,898 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Invesco PLC by 5,060.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,787,996 shares of the asset manager’s stock valued at $98,110,000 after acquiring an additional 2,733,970 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.
The firm’s 50-day moving average price is $34.80 and its 200-day moving average price is $33.86. The company has a market capitalization of $15.01 billion, a PE ratio of 16.45 and a beta of 1.80.
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Invesco PLC Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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