BlackRock (NYSE:BLK) Releases Quarterly Earnings Results, Beats Expectations By $1.04 EPS

BlackRock (NYSE:BLK) posted its earnings results on Friday. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04, RTT News reports. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $10.91 EPS.

BlackRock Trading Up 3.6 %

Shares of BLK stock opened at $990.26 on Monday. BlackRock has a twelve month low of $596.18 and a twelve month high of $996.29. The stock has a market cap of $147.15 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.94 and a beta of 1.30. The company’s 50-day moving average price is $899.39 and its 200-day moving average price is $831.33. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BLK shares. Argus increased their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Barclays lifted their target price on shares of BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. StockNews.com started coverage on BlackRock in a report on Saturday. They issued a “hold” rating on the stock. Finally, UBS Group reduced their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $972.23.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. Insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Institutional investors have recently added to or reduced their stakes in the stock. XML Financial LLC lifted its position in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after acquiring an additional 12 shares during the period. Pine Haven Investment Counsel Inc raised its holdings in BlackRock by 1.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock worth $890,000 after purchasing an additional 12 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in BlackRock by 6.1% during the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after purchasing an additional 13 shares in the last quarter. Forza Wealth Management LLC grew its holdings in BlackRock by 1.3% in the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after purchasing an additional 13 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in shares of BlackRock by 4.4% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Company Profile

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.