BlackRock (NYSE:BLK) announced its quarterly earnings data on Tuesday. The asset manager reported $10.95 EPS for the quarter, beating the Zacks’ 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 company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm posted $9.22 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year.
Shares of BLK stock traded up $2.71 during mid-day trading on Thursday, hitting $870.52. The stock had a trading volume of 2,730 shares, compared to its average volume of 583,632. BlackRock has a fifty-two week low of $587.90 and a fifty-two week high of $959.89. The firm has a market cap of $132.49 billion, a PE ratio of 24.61, a PEG ratio of 2.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50-day simple moving average is $895.01 and its 200-day simple moving average is $866.24.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were paid a $4.13 dividend. This represents a $16.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, September 3rd. BlackRock’s dividend payout ratio (DPR) is presently 48.85%.
An institutional investor recently raised its position in BlackRock stock. Morgan Stanley increased its stake in BlackRock, Inc. (NYSE:BLK) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.
BLK has been the topic of a number of recent analyst reports. UBS Group increased their price objective on shares of BlackRock from $890.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, July 8th. Credit Suisse Group lowered their target price on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a report on Thursday, July 15th. Morgan Stanley upped their target price on shares of BlackRock from $1,021.00 to $1,026.00 and gave the company an “overweight” rating in a report on Thursday. Argus upped their target price on shares of BlackRock from $950.00 to $975.00 and gave the company a “buy” rating in a report on Thursday, July 15th. Finally, Jefferies Financial Group upped their target price on shares of BlackRock from $1,001.00 to $1,075.00 and gave the company a “buy” rating in a report on Tuesday, August 31st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $952.93.
BlackRock Company Profile
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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