Invesco PLC (IVZ) to Issue Quarterly Dividend of $0.29 on December 4th
Invesco PLC (NYSE:IVZ) announced a quarterly dividend on Wednesday, October 25th, Zacks reports. Investors of record on Tuesday, November 14th will be given a dividend of 0.29 per share by the asset manager on Monday, December 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Monday, November 13th.
Invesco PLC has increased its dividend by an average of 9.4% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Invesco PLC has a payout ratio of 43.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Invesco PLC to earn $2.90 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 40.0%.
Invesco PLC (IVZ) opened at $35.15 on Friday. The stock has a market capitalization of $14,308.79, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.11 and a beta of 1.81. Invesco PLC has a 1-year low of $28.75 and a 1-year high of $37.75. 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 (NYSE:IVZ) last issued its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $976.60 million during the quarter, compared to analysts’ expectations of $940.96 million. Invesco PLC had a return on equity of 13.02% and a net margin of 18.99%. Invesco PLC’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. analysts predict that Invesco PLC will post 2.66 EPS for the current year.
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In related news, insider Colin Meadows sold 54,215 shares of the company’s stock in a transaction on 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.
Several equities analysts recently issued reports on IVZ shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $39.00 price objective on shares of Invesco PLC in a report on Sunday, July 30th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Invesco PLC in a report on Sunday, July 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Invesco PLC in a report on Sunday, July 30th. BidaskClub cut Invesco PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Zacks Investment Research cut Invesco PLC from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $38.50.
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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