BlackRock (NYSE:BLK) released its quarterly earnings results on Tuesday. The asset manager reported $9.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.45 by $1.77, MarketWatch Earnings reports. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $3.89 billion. BlackRock had a return on equity of 14.17% and a net margin of 29.55%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted $7.15 EPS.
Shares of BLK stock opened at $638.96 on Wednesday. The business’s 50 day moving average is $570.96 and its two-hundred day moving average is $537.88. BlackRock has a twelve month low of $323.98 and a twelve month high of $646.29. The company has a market capitalization of $97.43 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.23. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66.
In other news, Director Mark Wiedman sold 360 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $583.20, for a total value of $209,952.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director J. Richard Kushel sold 2,182 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $574.39, for a total value of $1,253,318.98. The disclosure for this sale can be found here. Insiders sold a total of 47,248 shares of company stock worth $27,405,326 over the last quarter. Company insiders own 1.42% of the company’s stock.
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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