The Perpetual Limited (ASX: PPT) share price has walked through today's session in the green, only to close exactly where it started the day at $39 and change.
Perpetual shares were sitting pretty throughout the day as the financial services company prepares to report its FY21 earnings tomorrow.
In addition, Perpetual shares have kept pace with the S&P/ASX 200 Index's (ASX: XJO) return of around 14% this year to date. Therefore, it's worth covering what Perpetual exhibited on the charts on its last earnings report back in April.
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What did Perpetual record in its last earnings report?
Although Perpetual announced its Q4 business update on 23 July, it's worth delving a bit deeper into its share price performance over a longer period, post-earnings.
Perpetual demonstrated a resilient first quarter, growing assets under management (AUM) by around 7% from the previous quarter.
Moreover, Perpetual outlined additional progress points in its report, including:
- Australia AUM growth of 4.4% and international AUM expansion of 7.7% to $71 million
- Fixed income inflows edged lower to $20.6 million, but remained positive
- Net outflows of $892 million, offset by $5.3 billion in asset growth from strong market conditions
- Positive currency impact of $783 million
- US equities gained almost $5 billion, with net outflows of $1.4 billion in equities
Additional takeouts to the above include that Perpetual Corporate Trust's funds under management also grew 1% to $942.9 billion, whereas it gained momentum in its Perpetual Private arm. Here, it exhibited a 4% gain in funds under advice.
What happened to the Perpetual share price next?
As the company released its last earnings on a Friday, by Monday, the Perpetual share price had soared 44% from the previous close.
Perpetual shares continued to climb until reaching 52-week highs on 2 July of $40.66, up until the next earnings release in July.
From the period 23 April to 22 July, the Perpetual share price climbed 13.5%. This occurred despite no price-sensitive news from the company, suggesting that the market welcomed its results.
Since then, additional catalysts have continued the fundamental momentum on Perpetual's chart, where it has climbed an additional 3% to today's trading.
Perpetual shareholders are undoubtedly hoping the momentum continues and that the market reacts the same way it did in April.
For context, Perpetual has a market capitalisation of $2.2 billion. Moreover, its share price has climbed 14% year to date and nearly 26% in the last 12 months.
