BlackRock (NYSE:BLK) released its quarterly earnings data on Wednesday. The asset manager reported $10.95 EPS for the quarter, beating analysts’ consensus estimates of $9.81 by $1.14, MarketWatch Earnings reports. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The business had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the business posted $9.22 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis.
BLK stock opened at $867.81 on Thursday. The stock has a 50-day moving average price of $895.01 and a two-hundred day moving average price of $866.24. BlackRock has a 12-month low of $587.90 and a 12-month high of $959.89. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $132.08 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were given a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, September 3rd. BlackRock’s dividend payout ratio is currently 48.85%.
A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley increased its holdings in BlackRock, Inc. (NYSE:BLK) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,323,967 shares of the asset manager’s stock after acquiring an additional 23,377 shares during the quarter. Morgan Stanley owned approximately 1.53% of BlackRock worth $2,033,403,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 78.13% of the company’s stock.
A number of research analysts have recently commented on BLK shares. Evercore ISI reiterated a “buy” rating and issued a $956.00 price objective on shares of BlackRock in a report on Friday, October 8th. Citigroup raised their price target on BlackRock from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Argus raised their price target on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, July 15th. BMO Capital Markets raised their price target on BlackRock from $773.00 to $803.00 and gave the stock a “market perform” rating in a research note on Thursday, July 15th. Finally, Credit Suisse Group reduced their price target on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a report on Thursday, July 15th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $953.50.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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