|Bid||0.000 x 30000|
|Ask||0.000 x 30000|
|Day's range||30.587 - 30.587|
|52-week range||24.045 - 33.000|
|PE ratio (TTM)||13.64|
|Dividend & yield||1.12 (3.52%)|
|1y target est||N/A|
JPMorgan Chase (JPM) reported better-than-expected earnings this morning--though you wouldn't know it from looking at its stock price. And its results might also portend solid earnings from asset managers ...
Invesco (IVZ) ended higher on Wednesday, after it reported September assets under management. Invesco said that it its AUM grew 1.2% month over month to $917.5 billion, putting the third-quarter increase to 6.9%. Wells Fargo's Christopher Harris and his team write that that figure was above their expectations, and that it is in part why they are raising their third-quarter earnings per share estimate by three cents, to 67 cents, two pennies above consensus.
The approach these investors are taking is known as “factor investing”, which breaks down the elements of a security or investment strategy to identify what is driving its performance.
Sovereign-wealth funds and insurers are looking to allocate more money to so-called smart-beta funds and other quantitative strategies over the next five years as they seek better returns for less risk, ...
Invesco, the No. 4 player in the hugely lopsided exchange-traded fund industry, has been steadily eyeing potential deals. On Thursday the firm said it would buy Guggenheim Investments’ $37 billion ETF business for $1.2 billion. “It’s possibly the worst-kept secret in the world,” Marty Flanagan, CEO of Invesco, told Barron’s with a laugh in an exclusive interview just before the announcement.
Invesco announced that it would acquire Guggenheim Investments' exchange-traded fund business for $1.2 billion after the market's close on Thursday. Barron's got the scoop, though, the deal was not exactly a secret. Invesco shares (IVZ) are up 1.7% to around $34.88 as of Friday afternoon. Analysts see positive aspects of the deal, but generally seemed to have mixed feelings. William Blair's Chris Shutler, Credit Suisse's Craig Siegenthaler, Morgan Stanley's Michael Cyprys sound off below: Shutler: ...We do not expect the factor-based (i.e., smart beta) ETF space to be immune from pricing pressure forever, and the S&P equal weighted funds in particular look expensive relative to market cap weighted peers, despite the fact the underlying indices are no more proprietary or difficult to calculate.
Guggenheim Partners LLC said on Tuesday that its chief executive officer, Mark Walter, has no current plans to step down and is not being pushed out of the investment firm he helped found, denying reports to the contrary. A source told Reuters that at least one member of Guggenheim's board of directors has pressed Walter to leave the firm after he became the subject of news coverage. Bloomberg News reported earlier Tuesday that Walter may step away from day-to-day management of Guggenheim, while The Wall Street Journal later reported that the billionaire has told colleagues he is considering stepping down as CEO.
Wall Street stocks rose on Friday, boosting an index of global equity markets close to a record high, after data showed U.S. job growth slowed more than expected in August, which could make the Federal Reserve cautious about raising interest rates again this year. Traders in currency and bond markets, however, viewed the data as not soft enough to completely rule out another rate hike by the U.S. central bank this year. The dollar climbed and Treasury yields rose.
Provident Financial (Other OTC: FPLPF - news) had almost 2 billion pounds ($2.6 billion) wiped off its market value after its second profit warning in quick succession prompted the departure of CEO Peter Crook and suspension of its dividend. The British sub-prime lender's earnings have been hit by unresolved problems at its door-to-door lending business, with the group's woes compounded by its additional disclosure on Tuesday that it has halted sales of one of its products pending an investigation by Britain's financial watchdog.
By Mike Gambale and Eleanor Duncan NEW YORK, Aug 8 - British American Tobacco brought the second-largest bond of the year to market on Tuesday, but found overstuffed investors were a bit tougher on pricing ...
Shares (Berlin: DI6.BE - news) in Vernalis (Frankfurt: BBP2.F - news) fell more than 15 percent on Monday as the British biotech company backed by fund manager Neil Woodford and his previous employer Invesco (Frankfurt: 3IW.F - news) announced a fresh setback for a key new drug in the United States. The company said its cough and cold treatment CCP-08 had received a so-called complete response letter (CRL) from the Food and Drug Administration (FDA), meaning the agency is not prepared to approve it at this time. Vernalis shares fell as much as 15.8 percent to 16 pence, matching a record low first hit on May 18.
Mike Ashley's Sports Direct empire has taken a 26% stake in Game Digital (Frankfurt: A11543 - news) , the troubled video games retailer has disclosed. The announcement confirms an exclusive report by Sky News on the latest deal by Mr Ashley, the billionaire tycoon and Newcastle United owner. It said: "Game is pleased that the strategic value of the group has been recognised by Sports Direct through this acquisition.
Sovereign investors are raising their property exposure at the expense of low-yielding bonds in an attempt to boost returns, but Brexit is seen as a significant negative for all UK investments, a study by asset manager Invesco (Frankfurt: 3IW.F - news) showed. The annual report, published on Monday and based on interviews with 97 sovereign wealth funds, state pension funds and central banks with assets in excess of $12 trillion, found sovereign investors underperformed their target returns by 2 percentage points on average over the past year.
** Intellectual property incubator Touchstone Innovations rises 5.1 pct after IP Group says it has made an approach to the firm about a possible combination ** IP Group says Touchstone has rejected the ...
The asset management giant which operates in the UK under the Invesco Perpetual brand is plotting a $500m takeover of Source, a London-based funds provider. Sky News understands that Invesco (Frankfurt: 3IW.F - news) is one of two remaining bidders for Source, which is jointly owned by the private equity firm Warburg Pincus and a group of investment banks including Goldman Sachs (NYSE: GS-PB - news) and JP Morgan. Invesco and the other, unidentified, bidder are said to be in advanced talks with advisers to Source, and a deal could be struck within days.
Britain's Circassia (Stuttgart: 23863607.SG - news) Pharmaceuticals is throwing in the towel on allergy investment after a second high-profile clinical trial flop, focusing instead on building a broader respiratory business. The failure of the company's immunotherapy to perform better than placebo in fighting dust mite allergy in a Phase IIb test follows similar negative results in a Phase III trial against cat allergy last year. The company's stock lost two-third's of its value in a single session on the June 2016 cat results, which many investors feared undermined the allergy thesis, and the reaction on Tuesday was more muted, with shares losing around 3 percent.
Allied Minds (Other OTC: ALLWF - news) , the technology and healthcare incubator, is facing more pressure from short-sellers of its stock, pitting hedge funds against one of Britain's best-known fund managers. The company, which has some high-profile shareholders, including Neil Woodford's Woodford Investment Management and Invesco Asset Management, was one of the UK's hottest initial public offerings (IPO) in 2014, with its shares having risen by nearly threefold in the year after listing. The share price weakened significantly after the company pulled the plug on seven of its investments earlier this month.
Britain's Circassia has secured the U.S. rights from AstraZeneca for two drugs to treat chronic obstructive pulmonary disease (COPD), a progressive lung condition affecting millions of people, for up to $230 million. Shares in Circassia jumped as much as 30 percent on Friday on news of the deal, which is its first since the failure of its cat allergy treatment in June.