BlackRock (NYSE:BLK) announced its quarterly earnings data on Tuesday. The asset manager reported $10.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $9.81 by $1.14, MarketWatch Earnings reports. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.82 billion. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $9.22 EPS.
BLK stock opened at $867.81 on Thursday. BlackRock has a twelve month low of $587.90 and a twelve month high of $959.89. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $132.08 billion, a P/E ratio of 24.39, a PEG ratio of 2.40 and a beta of 1.15. The firm has a 50 day simple moving average of $895.01 and a 200-day simple moving average of $866.24.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were given a dividend of $4.13 per share. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, September 3rd. BlackRock’s payout ratio is currently 48.85%.
In other news, General Counsel Christopher J. Meade sold 2,106 shares of the firm’s stock in a transaction that occurred on Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total transaction of $1,847,467.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.16% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent reporting period. 78.13% of the stock is currently owned by institutional investors and hedge funds.
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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