Invesco PLC (IVZ) Shares Gap Up on Strong Earnings

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.

TRADEMARK VIOLATION WARNING: This article was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.dispatchtribunal.com/2017/10/28/invesco-plc-ivz-shares-gap-up-on-strong-earnings.html.

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.

Receive News & Ratings for Invesco PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply