) achieved a new 52-week high, touching $33.03 almost at the end
of the trading session on May 8. The closing price of this
well-known asset manager reflects a solid year-to-date return of
23.2%. The trading volume for the session was 3.1 million shares.
Despite hitting its 52-week high, this Zacks Rank #1 (Strong Buy)
stock has plenty of upside left, given its strong estimate
revisions over the last 30 days and the expected year-over-year
earnings growth of 11.52% for 2013.
Impressive first-quarter 2013 results - including an earnings
surprise of 10.6% and strong assets under management (AUM) - as
well as solid capital deployment activities and a robust balance
sheet were the primary growth drivers for Invesco.
On Apr 30, Invesco reported first-quarter 2013 earnings of 52
cents per share, surpassing the Zacks Consensus Estimate by a
nickel. Moreover, results exceeded the prior-quarter earnings of
45 cents. Better-than-expected results came on the back of higher
As of Mar 31, 2013, AUM grew 6.0% sequentially to $729.3 billion,
reflecting net market gains, partially offset by unfavorable
foreign exchange rate changes. Average AUM for the first quarter
was $712.7 billion, up 4.8% from $680.2 billion in the prior
Estimate Revisions Show Strength
For Invesco, over the last 30 days, 12 of the 18 estimates for
2013 have been revised upward, lifting the Zacks Consensus
Estimate by 3.4% to $2.13 per share. For 2014, 13 of the 17
estimates moved north, helping the Zacks Consensus Estimate rise
4.2% to $2.48 per share.
Other investment managers worth considering include
AllianceBernstein Holding L.P.
Waddell & Reed Financial Inc.
Virtus Investment Partners, Inc.
). All these stocks carry the same Zacks Rank as Invesco.
ALLIANCEBERNSTN (AB): Free Stock Analysis
INVESCO LTD (IVZ): Free Stock Analysis Report
VIRTUS INVESTMT (VRTS): Free Stock Analysis
WADDELL&REED -A (WDR): Free Stock Analysis
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