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Invesco 4Q Profit Up 58%, Helped By Morgan Stanley Deal

DOW JONES NEWSWIRES Invesco Ltd.'s (IVZ) fourth-quarter earnings rose 58% as the money manager's bottom line was again helped by its recent acquisition of Morgan Stanley's (MS) retail asset-management business. President and Chief Executive Martin L. Flanagan noted that the company's full-year results were "driven by strong investment performance, an improved market environment and the successful integration of Morgan Stanley's retail asset management business." Invesco's deal with Morgan Stanley, including the Van Kampen fund unit, has helped to bolster the company's bottom line of late. Still, the bank's results have been dinged by one-time items. Morgan Stanley in November sold a 6.7% stake in Invesco for $664 million in proceeds a few months after it acquired the shares. Invesco reported a profit of $175.2 million, or 37 cents a share, up from $110.9 million, or 25 cents a share, a year earlier. Excluding items such as the consolidation of joint ventures and third-party expenses, earnings rose to 44 cents from 30 cents. Revenue jumped 38% to $1.03 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of 40 cents on $1.04 billion in revenue. Operating margin fell to 19.3% from 21.5%. Average assets under management rose 36% to $616 million from a year earlier and climbed 5.6% from the prior quarter. Long-term net outflows were $17 billion, compared with $4.9 billion of net inflows in the prior quarter. Institutional money-market net outflows were $1.6 billion, down from $2.4 billion. The quarter also included a previously-announced, low-fee institutional passive mandate outflow of $18.6 billion. Shares closed at $23.77 and were inactive premarket. The stock has risen 9.6% the past year. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; [email protected];

Stock News for Invesco Ltd (IVZ)
DateTimeHeadline
02/23/201712:14:43Annual Report (10-k)
02/23/201708:08:00Invesco Launches Four Simple, Convenient Single-Ticket Multi-Asset...
02/16/201716:15:00Invesco Ltd. Announces 2017 Annual General Meeting of Shareholders
02/16/201708:30:00Jemstep Partners with SSG to offer Advisor Pro Platform to over...
02/15/201716:27:13Current Report Filing (8-k)
02/15/201716:10:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
02/15/201716:10:00Invesco announces cash distributions for Canadian-listed PowerShares...
02/14/201718:25:47Annual Statement of Changes in Beneficial Ownership (5)
02/14/201714:49:51Form 13f Holdings Report (13f-hr)
02/13/201716:39:28Annual Statement of Changes in Beneficial Ownership (5)
02/10/201716:22:59Amended Statement of Ownership (sc 13g/a)
02/10/201708:43:20Current Report Filing (8-k)
02/09/201716:15:00Invesco Ltd. Announces January 31, 2017 Assets Under Management
02/01/201712:13:00Invesco Closed-End Funds Declare Dividends
01/31/201707:30:00Invesco lance de nouvelles séries pour deux FNB PowerShares...
01/31/201707:30:00Invesco launches new series for two PowerShares Canada ETFs
01/30/201717:15:31Statement of Changes in Beneficial Ownership (4)
01/30/201717:11:38Statement of Changes in Beneficial Ownership (4)
01/30/201717:09:27Statement of Changes in Beneficial Ownership (4)
01/30/201717:04:14Statement of Changes in Beneficial Ownership (4)

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