BlackRock (NYSE:BLK) released its earnings results on Friday. The asset manager reported $6.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30, Bloomberg Earnings reports. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. BlackRock’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned $5.14 EPS.

Shares of BlackRock (BLK) traded up $17.61 on Friday, hitting $555.53. 940,509 shares of the stock traded hands, compared to its average volume of 484,680. The firm has a market cap of $89,070.00, a PE ratio of 18.33, a P/E/G ratio of 1.53 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock has a 12 month low of $365.83 and a 12 month high of $556.37.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a $2.88 dividend. This represents a $11.52 annualized dividend and a dividend yield of 2.07%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is currently 33.00%.

BLK has been the topic of several research analyst reports. Credit Suisse Group reissued a “buy” rating and set a $680.00 target price on shares of BlackRock in a research note on Friday. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price on the stock in a research note on Tuesday, October 3rd. Goldman Sachs Group raised shares of BlackRock from a “neutral” rating to a “buy” rating and raised their target price for the company from $440.00 to $500.00 in a research note on Thursday, September 28th. Jefferies Group reissued a “hold” rating and set a $465.00 target price on shares of BlackRock in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $500.00 price objective on shares of BlackRock in a research note on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $510.67.

In other news, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. Insiders own 1.86% of the company’s stock.

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About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

Earnings History for BlackRock (NYSE:BLK)

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