BlackRock, Inc. (NYSE:BLK) announced its quarterly earnings data on Wednesday. The asset manager reported $5.92 EPS for the quarter, beating the consensus estimate of $5.49 by $0.43, Bloomberg Earnings reports. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the company earned $5.14 EPS. The company’s revenue was up 14.0% on a year-over-year basis.
Shares of BlackRock (BLK) opened at 473.93 on Thursday. BlackRock has a 12-month low of $336.84 and a 12-month high of $474.37. The firm has a 50-day moving average price of $433.75 and a 200 day moving average price of $414.44. The stock has a market cap of $76.87 billion, a PE ratio of 22.75 and a beta of 1.72.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.11%. The ex-dividend date was Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
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In related news, insider Jeff A. Smith sold 250 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,447 shares of company stock worth $1,855,015. Insiders own 1.86% of the company’s stock.
BLK has been the topic of several recent research reports. Bank of America Corporation restated a “buy” rating and set a $450.00 price target on shares of BlackRock in a research report on Monday, June 19th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG raised their price target on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Morgan Stanley restated an “overweight” rating and set a $460.00 price target (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $425.00 price target (up from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BlackRock currently has an average rating of “Buy” and a consensus target price of $468.54.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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