BlackRock (NYSE:BLK) released its quarterly earnings results on Wednesday. The asset manager reported $10.18 earnings per share for the quarter, beating analysts’ consensus estimates of $9.14 by $1.04, MarketWatch Earnings reports. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.28 billion. BlackRock had a net margin of 29.83% and a return on equity of 14.91%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $8.34 earnings per share.
Shares of NYSE:BLK traded down $19.06 during mid-day trading on Friday, reaching $724.44. 57,729 shares of the company’s stock were exchanged, compared to its average volume of 760,578. The firm has a market capitalization of $110.49 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.34 and a beta of 1.16. The business’s fifty day moving average price is $716.12 and its 200-day moving average price is $624.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.01. BlackRock has a twelve month low of $323.98 and a twelve month high of $788.00.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 21st. Stockholders of record on Friday, December 4th were issued a dividend of $3.63 per share. The ex-dividend date of this dividend was Thursday, December 3rd. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.00%. BlackRock’s dividend payout ratio (DPR) is presently 50.98%.
A number of research analysts recently issued reports on BLK shares. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating and set a $733.00 price objective on the stock. in a research note on Monday, December 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $835.00 to $838.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets boosted their target price on shares of BlackRock from $709.00 to $715.00 and gave the stock a “market perform” rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of BlackRock from $700.00 to $805.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 30th. Finally, Citigroup boosted their target price on shares of BlackRock from $690.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $709.08.
In related news, General Counsel Christopher J. Meade sold 179 shares of the business’s stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $710.50, for a total value of $127,179.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 3,850 shares of the business’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $626.47, for a total transaction of $2,411,909.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,018 shares of company stock worth $3,209,898. 1.42% of the stock is owned by company insiders.
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.
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