BlackRock’s earnings rise but fall short of views

The fund bought 29,059 shares of the asset manager’s stock, valued at approximately $10,533,000.

BLK has been the subject of several analyst reports. Kings Point Capital Management raised its position in shares of BlackRock by 34.5% in the first quarter. Pioneer Investment Management Inc. now owns 598,746 shares of the asset manager’s stock valued at $229,625,000 after buying an additional 110,634 shares during the period. Peoples Financial Services CORP. purchased a new position in BlackRock during the first quarter valued at $115,000. Legal & General Group Plc increased its position in BlackRock by 3.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,140 shares of the asset manager’s stock valued at $16,417,000 after buying an additional 21,075 shares during the period. Finally, Edge Asset Management Inc. raised its stake in BlackRock by 2.0% in the fourth quarter.

More than ever, Mr. Fink is positioning BlackRock to focus on such systematic investment strategies as basic index funds, E.T.F.s and blended strategies like smart beta and factors that target investment themes like momentum and low volatility. (NYSE:BLK) remains a cheap stock. BlackRock’s technology and risk management revenue grew 12% year-over-year. BlackRock, Inc. The stock’s 50 day moving average is $410.09 and its 200 day moving average is $390.31.

The P/E ratio is 21.690 and the market cap of the company is 71.90B.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, April 19th.

The New York City-based asset management giant reported Q2 earnings per share (EPS) of $5.24, which was $0.15 worse than the Wall Street consensus estimate of $5.39. The margins are “subdued” during Aladdin’s implementation process, but increased utilization and subsequent revenues will shift Aladdin to the front of BlackRock’s operations. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.86 billion. Next quarter’s EPS is estimated at $5.60 with next year’s EPS anticipated to be $25.13. The business’s revenue for the quarter was up 7.6% compared to the same quarter past year. In the last earnings report the EPS was $20.35 and is estimated to be $22.12 for the current year with 162,868,000 shares outstanding. Stockholders of record on Monday, June 5th were paid a $2.50 dividend. This dividend amount represented a yeild of $2.32. The ex-dividend date of this dividend was Thursday, June 1st. BlackRock’s dividend payout ratio is presently 49.14%.

ILLEGAL ACTIVITY WARNING: This story was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of USA & worldwide trademark and copyright law. The value of the investment in (BLK) went from $233,000 to $236,000 increasing 1.3% for the reporting period. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 price target on shares of BlackRock in a report on Monday, June 19th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $425.00 price target (up previously from $380.00) on shares of BlackRock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Jefferies Group LLC reiterated a “hold” rating and issued a $387.00 price target on shares of BlackRock in a research note on Wednesday, May 17th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. The stock has an average rating of “Buy” and a consensus target price of $428.36. Also, insider Mark Mccombe sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The mean target of $460.00 should be compared with the price when the stock was languishing around $336.84 a share. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

In other news, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction on Friday, June 2nd.

Total shares held by institutions as of the most recent company filings are 116,017,197 with a reported 7,405,938 bought and 4,244,407 sold.