BlackRock, Inc. (BLK) Q2 Earnings Miss, Despite Strong Inflows

Larry Fink

Larry Fink

Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Hedge funds and other institutional investors own 80.85% of the company's stock. (NYSE:BLK) traded up 0.11% during trading on Friday, hitting $438.34. The biggest holder now is Laurence D. Fink who owns 1,090,185 shares (0.67% of those outstanding), whilst Ralph L. Schlosstein holds 600,935 (0.37% of shares outstanding) and Charles S. Hallac holds 551,506 (0.34% of shares outstanding).

BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83. The firm's 50 day moving average is $410.09 and its 200-day moving average is $390.31.

WARNING: "WINTON GROUP Ltd Purchases New Position in BlackRock, Inc".

New York-based BlackRock's 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.

Revenue from investment advisory, administration fees and securities lending rose to $2.675 billion, roughly in line with expectations. The value of the total investment in BlackRock, Inc. went from $11,652,000 to $13,997,000 a change of $2,345,000 quarter to quarter. The business's revenue for the quarter was up 5.7% compared to the same quarter past year.

For the quarter, BlackRock earned $857 million, or $5.22 a share, up from $789 million, or $4.73 a share, in the quarter a year earlier. Equities analysts expect that BlackRock will post $22.12 EPS for the current year. Shareholders of record on Monday, June 5th were given a dividend of $2.50 per share. The ex-dividend date was Thursday, June 1st. This represents a $10.00 annualized dividend and a yield of 2.32%.

BLK has been the subject of several analyst reports. Morgan Stanley reissued an "overweight" rating and set a $460.00 price objective (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. Jefferies Group LLC reaffirmed a "hold" rating and issued a $387.00 price target on shares of BlackRock in a research note on Wednesday, May 17th. BidaskClub upgraded shares of BlackRock from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 1st. Finally, Zacks Investment Research raised shares of BlackRock from a "hold" rating to a "buy" rating and set a $480.00 target price on the stock in a research report on Tuesday, June 20th. August 24 investment analysts at Barclays held the company rating at "Equal-weight" but lowered the price expectation from $383.00 to $375.00. The company presently has an average rating of "Buy" and an average target price of $428.36. "(NYSE:BLK)" was originally reported by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of USA and global copyright & trademark laws. The original version of this piece can be accessed at https://www.baseball-news-blog.com/2017/07/17/harwood-advisory-group-llc-sells-406-shares-of-blackrock-inc-blk.html.

In other BlackRock news, insider Mark Mccombe sold 500 shares of the firm's stock in a transaction dated Friday, May 26th.

Sell-side analysts have also provided a consensus recommendation of 2.10 on company shares. Following the transaction, the director now owns 484,386 shares of the company's stock, valued at approximately $200,685,963.66. The disclosure for this sale can be found here.

Fink's comments were made on an earnings call highlighting the company's adaptation to a shifting geopolitical environment and a new wealth management industry centered on implementing technology.

BlackRock's technology and risk management revenue grew 12% year-over-year.

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