BlackRock (NYSE:BLK) Issues Earnings Results

Key Points

• EPS beat and strong flows: BlackRock reported adjusted EPS of $12.53 (vs. $12.40 consensus) with revenue up ~27% YoY, about $130B of net inflows including record ETF inflows (~$132B), and AUM near $13.9T as adjusted operating margin expanded to 44.5%.
• Costs, outflows and crypto drag: Total expenses rose 24% (compensation +27%) and institution index net outflows were $35B, while sizeable crypto mark‑to‑market losses (~$20B reported in some summaries) and higher share count/tax rate tempered profitability.
• Dividend increase amid insider selling and analyst cuts: BlackRock raised its quarterly dividend to $5.73 (annualized $22.92, ~2.2% yield), but insiders sold roughly 111,319 shares recently and several banks trimmed price targets, which could cap near‑term upside.

BlackRock (NYSE:BLK - Get Free Report) issued its earnings results on Tuesday. The asset manager reported $12.53 EPS for the quarter, beating the consensus estimate of $12.40 by $0.13, FiscalAI reports. BlackRock had a net margin of 22.93% and a return on equity of 14.78%. The firm's quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.64 earnings per share.

Here are the key takeaways from BlackRock's conference call:

• Strong quarter and client momentum — Q1 revenue was $6.7B (+27% YoY), operating income +31%, EPS $12.53 (+11%), and BlackRock reported $130B of net inflows including record ETF inflows of $132B.
• Durable organic fee growth and margin expansion — 8% organic base fee growth in the quarter (10% over 12 months) and a 130 bp increase in adjusted operating margin to 44.5%, driven by broad demand across products, regions, and client types.
• Acquisitions and data/technology integration accelerating private markets — HPS and Preqin added material revenue (≈$230M base fees from HPS; ≈$65M from Preqin) and management highlighted Aladdin+eFront+Preqin as a competitive edge for private credit transparency and risk analytics.
• Rising costs and selective outflows — Total expenses rose 24% (compensation +27%) due to incentive pay and acquisition headcount, while institution index net outflows were $35B and cash management saw $6B of seasonal outflows; EPS was also affected by a higher share count and a higher effective tax rate.

BlackRock Price Performance

BlackRock stock opened at $1,023.54 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.98 and a current ratio of 2.98. BlackRock has a 52-week low of $845.82 and a 52-week high of $1,219.94. The stock's 50 day moving average price is $1,014.09 and its two-hundred day moving average price is $1,069.76. The stock has a market capitalization of $159.20 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 1.38 and a beta of 1.48.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Friday, March 6th were paid a dividend of $5.73 per share. This is an increase from BlackRock's previous quarterly dividend of $5.21. This represents a $22.92 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, March 6th. BlackRock's payout ratio is 64.71%.

Insider Buying and Selling at BlackRock

In other news, COO Robert L. Goldstein sold 54,190 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $1,087.29, for a total value of $58,920,245.10. Following the completion of the sale, the chief operating officer directly owned 51,478 shares of the company's stock, valued at $55,971,514.62. This represents a 51.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J. Richard Kushel sold 20,000 shares of the company's stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total value of $22,500,000.00. Following the completion of the transaction, the director owned 61,894 shares of the company's stock, valued at $69,630,750. This trade represents a 24.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 111,319 shares of company stock valued at $123,999,249 over the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackRock

A number of large investors have recently added to or reduced their stakes in BLK. Brighton Jones LLC raised its holdings in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after acquiring an additional 296 shares in the last quarter. Bison Wealth LLC increased its holdings in BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after buying an additional 17 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of BlackRock in the second quarter worth approximately $259,000. Nebula Research & Development LLC bought a new stake in BlackRock in the 2nd quarter worth approximately $548,000. Finally, Osterweis Capital Management Inc. purchased a new stake in BlackRock during the second quarter valued at $98,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Q1 beat on earnings and revenue, with adjusted EPS of $12.53 vs. consensus ~$12.40 and revenue up ~27% year‑over‑year; management released slides and a press release showing AUM near $13.9T and a dividend increase — a clear catalyst for investor demand. BlackRock Reports First Quarter 2026 Earnings
• Positive Sentiment: Large ETF inflows and performance fees boosted profit and organic fee growth (CEO called it “one of the strongest starts”); reports cite roughly $130B of client cash into ETFs driving revenue mix and margin expansion. BlackRock Assets Hit Record $13.9 Trillion, CEO Calls It One Of The Strongest Starts Ever
• Neutral Sentiment: BlackRock Investment Institute and the firm’s strategists have moved to an overweight view on U.S. equities, citing contained Middle East risks and strong corporate earnings — a directional stance that supports asset flows but depends on macro developments. BlackRock raises view on U.S. stocks
• Neutral Sentiment: Active engagement in client situations (e.g., reported vote in Monte dei Paschi boardroom matter) signals stewardship influence but has limited direct impact on BLK’s top‑line. BlackRock to support dissident slate
• Negative Sentiment: Several banks pared price targets (JPMorgan cut its PT and kept a neutral rating; Evercore and BMO trimmed targets), which can cap near‑term upside even after the beat. JPMorgan adjusts price target on BlackRock
• Negative Sentiment: Q1 included notable crypto mark‑to‑market losses (~$20.5B reported in some summaries) and rising expenses that tempered margin gains — risks that could weigh on sentiment if crypto volatility or costs persist. BlackRock Sees $20.47B Crypto Loss in Q1 2026

Analyst Ratings Changes

A number of analysts recently issued reports on BLK shares. UBS Group lowered their target price on BlackRock from $1,280.00 to $1,235.00 and set a "buy" rating for the company in a research note on Thursday, April 9th. Morgan Stanley decreased their price target on BlackRock from $1,550.00 to $1,368.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,296.00 to $1,380.00 in a report on Thursday, January 15th. Wall Street Zen raised BlackRock from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. Finally, Barclays reduced their price objective on BlackRock from $1,350.00 to $1,290.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average price target of $1,247.28.

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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