BlackRock (NYSE:BLK - Get Free Report) announced its quarterly earnings results on Tuesday. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64, RTT News reports. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm earned $10.36 EPS. The business's quarterly revenue was up 12.9% compared to the same quarter last year.
BlackRock Trading Down 0.2%
BlackRock stock traded down $2.07 during mid-day trading on Friday, hitting $1,103.31. The company's stock had a trading volume of 467,997 shares, compared to its average volume of 701,666. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The stock has a market cap of $170.94 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. The business has a 50 day moving average price of $1,009.94 and a 200-day moving average price of $972.77. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,118.81.
BlackRock Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio is presently 50.39%.
Analyst Ratings Changes
Several brokerages have commented on BLK. Wall Street Zen raised shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Wells Fargo & Company cut their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday. Citigroup cut their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Bank of America upped their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.
Read Our Latest Stock Analysis on BlackRock
Insiders Place Their Bets
In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.
Institutional Trading of BlackRock
A hedge fund recently raised its stake in BlackRock stock. Bison Wealth LLC raised its position in BlackRock (NYSE:BLK - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,052 shares of the asset manager's stock after acquiring an additional 17 shares during the quarter. Bison Wealth LLC's holdings in BlackRock were worth $1,078,000 at the end of the most recent quarter. Institutional investors own 80.69% of the company's stock.
About BlackRock
(
Get Free Report)
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
See Also
Before you consider BlackRock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackRock wasn't on the list.
While BlackRock currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
