BlackRock (BLK) Posts Earnings Results, Beats Estimates By $0.48 EPS

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BlackRock (NYSE:BLK) announced its quarterly earnings data on Tuesday. The asset manager reported $6.61 EPS for the quarter, beating the Zacks’ consensus estimate of $6.13 by $0.48, MarketWatch Earnings reports. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.30 billion. BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.48 earnings per share.

NYSE BLK opened at $466.54 on Wednesday. The stock has a market capitalization of $71.41 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. BlackRock has a twelve month low of $360.79 and a twelve month high of $557.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64.

A number of research analysts have recently commented on BLK shares. Credit Suisse Group reaffirmed a “buy” rating and set a $532.00 price objective on shares of BlackRock in a research report on Thursday, January 17th. Argus reaffirmed a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $472.00 price objective on shares of BlackRock in a research report on Wednesday, January 9th. Barclays reissued a “buy” rating on shares of BlackRock in a research note on Thursday, January 10th. Finally, Citigroup lowered their target price on shares of BlackRock from $500.00 to $450.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $501.53.

In other BlackRock news, COO Robert L. Goldstein sold 5,133 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $443.00, for a total transaction of $2,273,919.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider J. Richard Kushel sold 3,077 shares of the company’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $409.29, for a total transaction of $1,259,385.33. The disclosure for this sale can be found here. In the last three months, insiders sold 138,650 shares of company stock worth $57,774,089. 1.75% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of BLK. WESPAC Advisors SoCal LLC bought a new stake in BlackRock during the fourth quarter worth about $25,000. Hanson McClain Inc. grew its stake in BlackRock by 425.0% during the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after buying an additional 51 shares during the last quarter. Private Ocean LLC grew its stake in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after buying an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in BlackRock during the fourth quarter worth about $33,000. Finally, Legacy Financial Advisors Inc. grew its stake in shares of BlackRock by 125.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 49 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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About BlackRock

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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