BlackRock (NYSE:BLK) Announces Quarterly Earnings Results

BlackRock (NYSE:BLKGet Rating) issued its quarterly earnings data on Wednesday. The asset manager reported $9.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.18 by $0.34, MarketWatch Earnings reports. BlackRock had a return on equity of 16.54% and a net margin of 30.46%. The business had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the firm posted $7.77 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis.

Shares of BLK traded down $1.89 during mid-day trading on Wednesday, hitting $714.94. 8,283 shares of the company’s stock were exchanged, compared to its average volume of 849,266. The stock has a market cap of $108.70 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.78 and a beta of 1.22. The firm has a fifty day moving average of $746.39 and a two-hundred day moving average of $842.32. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.38. BlackRock has a twelve month low of $660.15 and a twelve month high of $973.16.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 23rd. Investors of record on Monday, March 7th were given a dividend of $4.88 per share. This represents a $19.52 annualized dividend and a yield of 2.73%. The ex-dividend date was Friday, March 4th. This is a positive change from BlackRock’s previous quarterly dividend of $4.13. BlackRock’s dividend payout ratio (DPR) is presently 51.09%.

In other BlackRock news, Director Mark Mccombe sold 1,400 shares of the business’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $819.32, for a total value of $1,147,048.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.16% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Community Trust NA acquired a new position in shares of BlackRock during the fourth quarter valued at about $66,000. Monolith Advisors acquired a new position in BlackRock in the 4th quarter valued at approximately $73,000. Crestwood Advisors Group LLC raised its position in BlackRock by 9.0% in the fourth quarter. Crestwood Advisors Group LLC now owns 399 shares of the asset manager’s stock worth $365,000 after purchasing an additional 33 shares in the last quarter. Zullo Investment Group Inc. bought a new position in BlackRock during the fourth quarter worth about $379,000. Finally, Autumn Glory Partners LLC bought a new stake in shares of BlackRock in the 4th quarter valued at approximately $473,000. 93.44% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on BLK shares. Bank of America began coverage on BlackRock in a research note on Thursday, December 16th. They set a “buy” rating for the company. The Goldman Sachs Group lowered their target price on BlackRock from $1,000.00 to $800.00 and set a “buy” rating on the stock in a report on Monday, March 14th. Citigroup cut their price target on shares of BlackRock from $1,035.00 to $900.00 and set a “buy” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of BlackRock from $1,024.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, April 7th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating and set a $808.00 target price on the stock in a report on Monday, April 4th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Buy” and an average target price of $916.50.

About BlackRock (Get Rating)

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

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Earnings History for BlackRock (NYSE:BLK)

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