BlackRock (NYSE:BLK) released its earnings results on Wednesday. The asset manager reported $10.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $9.81 by $1.14, MarketWatch Earnings reports. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The business had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the company earned $9.22 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis.
BLK opened at $867.81 on Thursday. The company has a fifty day moving average price of $895.01 and a two-hundred day moving average price of $866.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. BlackRock has a 52 week low of $587.90 and a 52 week high of $959.89. The firm has a market capitalization of $132.08 billion, a PE ratio of 24.39, a P/E/G ratio of 2.40 and a beta of 1.15.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th were issued a dividend of $4.13 per share. This represents a $16.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, September 3rd. BlackRock’s dividend payout ratio is presently 48.85%.
A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,323,967 shares of the asset manager’s stock after buying an additional 23,377 shares during the quarter. Morgan Stanley owned approximately 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent reporting period. 78.13% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on BLK. Morgan Stanley increased their target price on shares of BlackRock from $944.00 to $1,017.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. Argus raised their price target on shares of BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, July 15th. Jefferies Financial Group raised their price target on shares of BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st. Citigroup raised their price target on shares of BlackRock from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Finally, Credit Suisse Group cut their price target on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Thursday, July 15th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Buy” and an average price target of $953.50.
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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