From the first Quarter of Invesco. Net income declined to
$187.8 million, or 43 cents a share, from $222.22 million or 49 cents compare
to the last year. But Invesco’s assets rose 1.1% in the quarter to a record
$787 billion because of deposits in other businesses and higher equity markets.
The U.K penalty and related legal fees decreased earnings by 7 cents a share.
Additional costs connected to building closure and job cuts reduced net income
by 9 cents a share. It shows 15% decline of profit due to the company was fined
by U.K. regulators for breaking rules on limiting risk (Invesco Perpetual broke
rules on limiting risk 33 times, didn’t communicate properly with investors
about derivatives, didn’t record trades on time and failed to monitor whether
trades were allocated fairly among funds). And announced a quarterly dividend of
0.25 per share. This represents a $1.00 annualized dividend and a dividend yield
of 2.78%.
In May 12th, 2014. Invesco Ltd reported preliminary
month-end assets under managements of $779.4 billion, a decrease of 1% month
over month. The decrease was driven by negative net long-term flows and outflows.
There is $13 billion outflow in the U.K.
Despite the weaker first quarter financial report.
Investment performance during the quarter was strong across the time period.
81% of assets were ahead of peers on a three-year basis, and 73% of assets were
ahead of peers on a one-year-over the past year. From updated model, the new
target price $42.40 represent 17.96% upside.
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