BlackRock (NYSE:BLK) issued its earnings results on Tuesday. The asset manager reported $10.95 earnings per share for the quarter, beating analysts’ consensus estimates of $9.81 by $1.14, MarketWatch Earnings reports. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.82 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.22 EPS.
Shares of BLK stock opened at $867.81 on Thursday. The stock has a 50-day moving average price of $895.01 and a 200 day moving average price of $866.24. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $132.08 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.40 and a beta of 1.15. BlackRock has a 12 month low of $587.90 and a 12 month high of $959.89.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 22nd. Investors of record on Tuesday, September 7th were given a $4.13 dividend. The ex-dividend date was Friday, September 3rd. This represents a $16.52 dividend on an annualized basis and a yield of 1.90%. BlackRock’s payout ratio is 48.85%.
In related news, General Counsel Christopher J. Meade sold 2,106 shares of BlackRock stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total value of $1,847,467.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.16% of the stock is owned by company insiders.
An institutional investor recently raised its position in BlackRock stock. Morgan Stanley grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,323,967 shares of the asset manager’s stock after purchasing an additional 23,377 shares during the quarter. Morgan Stanley owned about 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent quarter. 78.13% of the stock is owned by institutional investors.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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