BlackRock, Inc. (BLK) Posts Earnings Results, Misses Estimates By $0.12 EPS

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At the moment 14 analysts are watching BlackRock, Inc.

Assets under management: $5.689 trillion vs $5.66 trillion expected by StreetAccount. WFG Advisors LP increased its position in shares of BlackRock by 61.8% in the fourth quarter. The firm bought 711 shares of the asset manager's stock, valued at approximately $273,000.

B & T Capital Management DBA Alpha Capital Management acquired a new position in shares of BlackRock, Inc. The firm acquired 5,560 shares of the asset manager's stock, valued at approximately $2,348,000.

Shares of BlackRock, Inc. "(NYSE:BLK) Shares Sold by Papp L Roy & Associates" was originally published by BBNS and is owned by of BBNS. The company has a market capitalization of $71.39 billion, a P/E ratio of 21.54 and a beta of 1.71. The firm's 50-day moving average price is $410.09 and its 200-day moving average price is $390.31. BlackRock has a 12-month low of $336.84 and a 12-month high of $442.83.

BlackRock Inc's second-quarter results failed to impress Wall Street on Monday as the world's biggest asset manager cut fees to lure a wave of investor cash into its exchange-traded funds, sending shares down 3 percent.

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Assets under management jumped 16 percent to almost $5.7 trillion, but revenue gained just 6 percent to $2.97 billion and earnings per share rose 10 percent to $5.22, or $5.24 after adjusting for non-recurring items and other charges.

In traditional actively managed products, flows turned positive compared with last quarter. During the same quarter past year, the firm earned $4.25 earnings per share.

In all, BlackRock reported a profit of $857 million, or $5.22 a share, in its second quarter, up from $789 million, or $4.73 a share, a year earlier.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. This represents a $10.00 annualized dividend and a dividend yield of 2.28%. BlackRock's dividend payout ratio (DPR) is presently 49.14%. The value of the investment in (BLK) went from $233,000 to $236,000 increasing 1.3% for the reporting period. Finally, Wells Fargo & Company reaffirmed a "market perform" rating and issued a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. The price swooned $13.53, or 3.1%, mid-morning Monday to $424.81. Jefferies Group LLC reaffirmed a "hold" rating and set a $387.00 target price on shares of BlackRock in a research report on Wednesday, May 17th. Zacks Investment Research upgraded BlackRock from a "hold" rating to a "buy" rating and set a $480.00 price target on the stock in a report on Tuesday, June 20th. Deutsche Bank AG lifted their price target on BlackRock from $447.00 to $449.00 and gave the company a "buy" rating in a report on Thursday, April 6th. And it remains to be seen which target price BLK can achieve without sacrificing much as the company is holding a 23.41% gain for the past twelve months.

In related news, Director Susan Wagner sold 2,500 shares of the firm's stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the completion of the sale, the director now directly owns 484,386 shares in the company, valued at $200,685,963.66. Also, insider Mark Mccombe sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. "The organic growth that BlackRock is experiencing is a direct result of the investments we've made over time to build our platform". Aladdin will be a "transformation" for BlackRock to excel in portfolio construction and risk management. Institutional investors and hedge funds own 80.84% of the company's stock.