BlackRock (NYSE:BLK) Announces Quarterly Earnings Results, Beats Expectations By $0.39 EPS

BlackRock (NYSE:BLK) released its quarterly earnings data on Friday. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39, RTT News reports. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the business earned $7.93 earnings per share. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year.

BlackRock Trading Down 2.9 %

Shares of NYSE:BLK traded down $22.56 during trading on Friday, reaching $763.40. 1,453,625 shares of the company were exchanged, compared to its average volume of 623,436. The business’s fifty day simple moving average is $808.88 and its 200-day simple moving average is $752.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. BlackRock has a 12-month low of $596.18 and a 12-month high of $845.00. The firm has a market capitalization of $113.70 billion, a PE ratio of 19.40, a P/E/G ratio of 1.65 and a beta of 1.37.

Insider Activity at BlackRock

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other BlackRock news, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares in the company, valued at $3,574,225.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,511 shares of company stock worth $71,864,028. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Capital Research Global Investors grew its stake in shares of BlackRock by 23.7% during the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after acquiring an additional 749,654 shares during the last quarter. Capital World Investors grew its position in BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after purchasing an additional 1,279,952 shares during the last quarter. Morgan Stanley increased its stake in BlackRock by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of BlackRock by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after buying an additional 35,161 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after buying an additional 58,681 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the topic of several recent research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group boosted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $802.29.

BlackRock Company Profile

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.