Invesco Reaches a New 52-Week High

Zacks

Shares of Invesco Ltd. (IVZ) achieved a new 52-week high of $38.41 in the first half of the trading session on Jun 9. The stock closed at $38.20, reflecting a solid return of 11.5% over the past year. The trading volume for the session was 2.5 million shares.

Despite the strong price appreciation, this Zacks Rank #3 (Hold) stock has plenty of upside left, given its estimate revisions over the last 60 days.

Growth Drivers

Impressive first-quarter 2014 results and enhanced capital deployment activities were the primary growth drivers for Invesco.

Invesco reported first-quarter results on May 1. Earnings of $2.04 per share outpaced the Zacks Consensus Estimate by 9.1%. Results benefited from top-line growth, partially offset by higher operating expenses.

Further, during the first quarter, Invesco repurchased shares worth $119.6 million at an average price of $33.56 per share. Moreover, the company had announced a regular dividend payout of 25 cents, reflecting an 11.1% hike from the prior payout.

Estimate Revisions

Over the last 60 days, 5 of 12 estimates for 2014 have been revised upward, propelling the Zacks Consensus Estimate by nearly 1% to $2.44 per share. For 2015, the Zacks Consensus Estimate declined by a penny to $2.77 per share, over the same time frame.

Some other asset managers worth considering include Cohen & Steers Inc. (CNS), Woori Finance Holdings Co., Ltd. (WF) and Ameriprise Financial, Inc. (AMP). While both Cohen & Steers and Woori Finance sport a Zacks Rank #1 (Strong Buy), Ameriprise holds a Zacks Rank #2 (Buy).

Read the Full Research Report on IVZ
Read the Full Research Report on AMP
Read the Full Research Report on WF
Read the Full Research Report on CNS


Zacks Investment Research

Rates

View Comments (0)