BlackRock (NYSE:BLK) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS
BlackRock (NYSE:BLK) issued its earnings results on Friday. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.52 by ($0.11), RTT News reports. BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the firm posted $6.66 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year.
BlackRock stock opened at $473.24 on Monday. The company’s 50 day moving average is $458.80. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83. BlackRock has a fifty-two week low of $360.79 and a fifty-two week high of $513.00. The company has a market capitalization of $73.13 billion, a P/E ratio of 17.57, a PEG ratio of 1.71 and a beta of 1.52.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be given a dividend of $3.30 per share. The ex-dividend date is Wednesday, September 4th. This represents a $13.20 annualized dividend and a dividend yield of 2.79%. BlackRock’s dividend payout ratio (DPR) is presently 49.02%.
In related news, insider Jeff A. Smith sold 75 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $479.40, for a total value of $35,955.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock valued at $15,163,636 in the last ninety days. Insiders own 1.42% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Comerica Securities Inc. raised its holdings in shares of BlackRock by 6.4% in the 4th quarter. Comerica Securities Inc. now owns 2,912 shares of the asset manager’s stock valued at $1,144,000 after purchasing an additional 174 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of BlackRock by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after purchasing an additional 60,941 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of BlackRock by 35.5% in the 4th quarter. Hilltop Holdings Inc. now owns 782 shares of the asset manager’s stock valued at $307,000 after purchasing an additional 205 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of BlackRock by 19.2% in the 4th quarter. MML Investors Services LLC now owns 13,439 shares of the asset manager’s stock valued at $5,279,000 after purchasing an additional 2,162 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in BlackRock by 14.5% during the 4th quarter. Nuveen Asset Management LLC now owns 4,250 shares of the asset manager’s stock worth $1,669,000 after acquiring an additional 537 shares in the last quarter. 81.31% of the stock is owned by institutional investors.
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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