BlackRock (NYSE:BLK) Announces Quarterly Earnings Results

BlackRock (NYSE:BLK) issued its quarterly earnings data on Monday. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40, RTT News reports. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the company earned $9.28 earnings per share. BlackRock’s revenue for the quarter was up 7.7% on a year-over-year basis.

BlackRock Stock Performance

BLK stock opened at $827.97 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The stock has a market capitalization of $123.04 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.71 and a beta of 1.32. BlackRock has a 1 year low of $596.18 and a 1 year high of $845.00. The stock’s fifty day moving average is $787.33 and its two-hundred day moving average is $792.86.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s payout ratio is 51.84%.

Analysts Set New Price Targets

BLK has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen decreased their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group decreased their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $915.00 price target on shares of BlackRock in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $847.36.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently 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.