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

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

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

Migdal Insurance & Financial Holdings Ltd. raised its position in shares of BlackRock by 95.5% in the fourth quarter. The value of the investment in (BLK) went from $233,000 to $236,000 increasing 1.3% for the reporting period. As of quarter end Eqis Capital Management, Inc. had disposed of a total of 51 shares trimming its position 8.4%. WFG Advisors LP now owns 998 shares of the asset manager's stock valued at $117,000 after buying an additional 381 shares in the last quarter.

BlackRock reported its iShares ETFs saw then-record inflows of $64 billion during the first quarter, capturing the No. 1 share of ETF industry flows globally.

Shares of BlackRock, Inc.

BlackRock's revenue has not topped analysts' estimates since the fourth quarter of 2015, according to Thomson Reuters data. Finally, Keel Point LLC increased its position in shares of BlackRock by 0.9% in the first quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $437.01. (NYSE BLK) opened at 438.34 on Monday. The firm has a 50-day moving average of $410.09 and a 200-day moving average of $390.31. BLK's current price-earnings ratio amounts to 21.54 times earnings, below the average P/E ratio of 125.21 times earnings. (NASDAQ:BLK) to report earnings on Jul, 17 for the fiscal quarter ending Jun 2017. 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.

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Adjusted net income was $860 million or $5.24 per share, compared to last year's $797 million or $4.78 per share. The business's revenue was up 7.6% compared to the same quarter a year ago.

The NYSE-listed firm said that during the second quarter, its net profit rose to US$857mln, or US$5.22 a share, up from US$789mln, or US$4.73 a share, in the same period a year ago.

The business also recently declared 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 49.14%.

Investment management giant Blackrock Inc. (NYSE:BLK) is up 15.87%, compared with a gain of almost 15.66% for 3 months and about 4.00% for the past 30 days. If you are viewing this report on another domain, it was stolen and republished in violation of U.S. & global copyright and trademark laws. The legal version of this piece can be accessed at 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. BidaskClub upgraded BlackRock from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 1st. Deutsche Bank AG restated a "buy" rating and set a $441.00 price objective (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. 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.

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. BlackRock now has a consensus rating of "Buy" and an average target price of $428.36. The stock has rallied 15% year to date through Friday, while the S&P 500 has gained 9.9%. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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