) 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.
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
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.
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.
Woori Finance Holdings Co., Ltd.
Ameriprise Financial, Inc.
). While both Cohen & Steers and Woori Finance sport a Zacks
Rank #1 (Strong Buy), Ameriprise holds a Zacks Rank #2 (Buy).
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