ATLANTA - Invesco Ltd. (NYSE: IVZ), a global investment management firm, has announced an increase in its preliminary month-end assets under management (AUM) to $1,751.8 billion as of August 31, 2024. This represents a 1.1% rise from the $1,732.0 billion reported at the end of July 2024.
The company experienced net long-term inflows totaling $2.4 billion for the month. Despite this growth, the firm saw money market net outflows of $6.4 billion. Invesco's AUM was positively influenced by favorable market returns, which contributed an additional $16 billion, and foreign exchange movements that increased AUM by $7.3 billion.
The breakdown of AUM across various investment strategies as of August 31, 2024, includes $444.2 billion in ETFs & Index Strategies, $284.6 billion in Fundamental Fixed Income, $275.2 billion in Fundamental Equities, and $129.6 billion in Private Markets. APAC Managed assets stood at $113.8 billion, with Multi-Asset/Other at $62.8 billion, and Global Liquidity at $153.1 billion. The QQQ, a notable exchange-traded fund managed by Invesco, reported AUM of $288.5 billion.
For the quarter through August 31, 2024, Invesco's preliminary average total AUM was $1,730.2 billion, and the average active AUM was $1,003.3 billion.
Invesco Ltd. is recognized for its diverse range of active, passive, and alternative investment capabilities, operating with a presence in over 20 countries.
The information provided in this article is based on a press release statement.
In other recent news, Invesco Ltd. has reported a series of positive financial developments. The company's assets under management (AUM) experienced a 12% year-over-year increase, reaching over $1.7 trillion. This was driven by record net long-term inflows of $16.7 billion, marking the strongest quarter in over two years. In addition, the firm's operating margin expanded to 30.9%.
Several analyst firms have updated their outlook on Invesco. Barclays initiated coverage on Invesco with an Equal Weight rating and a price target of $18.00. RBC Capital Markets raised Invesco's price target to $17.00, maintaining a Sector Perform rating. BofA Securities lifted the price target to $20, keeping a Neutral rating, and Argus increased the price target to $19.00, reaffirming a Buy rating.
Invesco's financial strategy, including its plans to resume share buybacks, has been positively received. The company has been focusing on expanding its ETF and fixed-income offerings, particularly in international markets such as China and Japan. These are among the recent developments for Invesco.
InvestingPro Insights
Invesco Ltd. (NYSE: IVZ) has shown resilience with a reported increase in preliminary month-end assets under management (AUM). As investors consider the firm's performance and future prospects, recent data from InvestingPro provides additional context. The company's market capitalization stands at approximately $7.11 billion. Despite a challenging past twelve months, Invesco's net income is expected to grow this year, reflecting potential optimism for the company's profitability.
InvestingPro Tips indicate that analysts have mixed expectations, with seven analysts revising their earnings downwards for the upcoming period, yet predicting the company will turn profitable within the year. This juxtaposition of analyst sentiment underscores the importance of monitoring Invesco's upcoming financial reports and market trends. Additionally, the firm has demonstrated an ability to maintain dividend payments for 18 consecutive years, with a current dividend yield of 5.17%, which may appeal to income-focused investors.
Key financial metrics offer a snapshot of the company's health: Invesco's price-to-earnings (P/E) ratio stands at -21.21, indicating that the market may be expecting future earnings growth to offset current losses. The adjusted P/E ratio for the last twelve months as of Q2 2024 is significantly more favorable at 1.89, suggesting that when considering normalized earnings, the company may be undervalued. Furthermore, Invesco's liquid assets exceed its short-term obligations, which speaks to its financial stability and ability to weather potential market volatility.
For those seeking more in-depth analysis, InvestingPro offers additional tips on Invesco Ltd., which can be accessed for a deeper dive into the company's financials and market position.
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