Invesco PLC Announces Quarterly Dividend of $0.29 (IVZ)
Invesco PLC (NYSE:IVZ) announced a quarterly dividend on Friday, July 28th, NASDAQ reports. Stockholders of record on Thursday, August 17th will be paid a dividend of 0.29 per share by the asset manager on Friday, September 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Tuesday, August 15th.
Invesco PLC has increased its dividend by an average of 9.4% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Invesco PLC has a dividend payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Invesco PLC to earn $2.79 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 41.6%.
Shares of Invesco PLC (IVZ) opened at 33.99 on Monday. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 15.15 and a beta of 1.80. The stock’s 50 day moving average price is $35.33 and its 200-day moving average price is $32.75. Invesco PLC has a 52 week low of $27.46 and a 52 week high of $36.83.
Invesco PLC (NYSE:IVZ) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The firm had revenue of $906.30 million during the quarter, compared to analysts’ expectations of $891.19 million. During the same period in the prior year, the business earned $0.56 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Invesco PLC will post $2.54 earnings per share for the current year.
A number of research firms have recently issued reports on IVZ. Royal Bank Of Canada began coverage on Invesco PLC in a report on Thursday, June 29th. They issued an “outperform” rating and a $41.00 price objective for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $41.00 price objective on shares of Invesco PLC in a report on Sunday, July 30th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $36.00 price objective on shares of Invesco PLC in a report on Sunday, July 2nd. ValuEngine upgraded Invesco PLC from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Zacks Investment Research cut Invesco PLC from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $37.29.
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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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