Invesco PLC (NYSE:IVZ) – Jefferies Group boosted their FY2017 earnings estimates for shares of Invesco PLC in a research report issued on Thursday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings per share of $2.65 for the year, up from their previous forecast of $2.59. Jefferies Group currently has a “Buy” rating and a $42.00 price target on the stock. Jefferies Group also issued estimates for Invesco PLC’s Q4 2017 earnings at $0.68 EPS, FY2018 earnings at $2.83 EPS and FY2019 earnings at $3.15 EPS.
Invesco PLC (NYSE:IVZ) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. Invesco PLC had a return on equity of 13.02% and a net margin of 18.99%. The business had revenue of $976.60 million during the quarter, compared to analyst estimates of $940.96 million. During the same period last year, the company earned $0.60 earnings per share. Invesco PLC’s quarterly revenue was up 14.3% compared to the same quarter last year.
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Other analysts have also issued reports about the company. BidaskClub lowered Invesco PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Wells Fargo & Company reiterated an “outperform” rating on shares of Invesco PLC in a report on Sunday, July 30th. Barclays PLC assumed coverage on Invesco PLC in a report on Friday, September 8th. They set an “overweight” rating and a $38.00 price objective for the company. Zacks Investment Research lowered Invesco PLC from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $39.00 price objective on shares of Invesco PLC in a report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Invesco PLC currently has a consensus rating of “Buy” and a consensus price target of $38.50.
Shares of Invesco PLC (IVZ) opened at $36.05 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. Invesco PLC has a 1-year low of $27.58 and a 1-year high of $37.75. The stock has a market capitalization of $14,675.16, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.14 and a beta of 1.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Tuesday, November 14th will be paid 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 3.22%. Invesco PLC’s payout ratio is presently 50.44%.
In other news, insider Colin Meadows sold 54,215 shares of Invesco PLC stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total value of $1,952,282.15. Following the transaction, the insider now directly owns 164,420 shares in the company, valued at $5,920,764.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Financial Architects Inc increased its stake in shares of Invesco PLC by 54.3% in the second quarter. Financial Architects Inc now owns 3,073 shares of the asset manager’s stock worth $109,000 after purchasing an additional 1,082 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of Invesco PLC in the second quarter worth about $185,000. Gilbert & Cook Inc. bought a new position in shares of Invesco PLC in the second quarter worth about $203,000. Cornerstone Investment Partners LLC bought a new position in shares of Invesco PLC in the second quarter worth about $206,000. Finally, IBM Retirement Fund bought a new position in shares of Invesco PLC in the second quarter worth about $210,000. Institutional investors and hedge funds own 79.87% of the company’s stock.
About Invesco PLC
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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