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

Jay Anderson
July 17, 2017

Kings Point Capital Management raised its position in shares of BlackRock by 34.5% in the first quarter. (NYSE:BLK) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. AQR Capital Management LLC now owns 13,419 shares of the asset manager's stock valued at $5,106,000 after buying an additional 4,530 shares during the period. AQR Capital Management LLC boosted its stake in BlackRock by 51.0% in the fourth quarter. Finally, Adirondack Trust Co. raised its position in shares of BlackRock by 7.1% in the first quarter. 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. The fund bought 29,059 shares of the asset manager's stock, valued at approximately $10,533,000.

BlackRock shares fell 2.8 percent in the premarket following the report's release.

BlackRock stock traded down nearly 2% at Monday's open. The company is expected to report EPS as high as $5.72 and as low as $5.39 per share. The firm's 50 day moving average is $410.09 and its 200-day moving average is $390.31. The company has a market cap of $71.39 billion, a price-to-earnings ratio of 21.54 and a beta of 1.71.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, April 19th. The asset manager reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.31.

Advisory, administration fees and lending revenue amounted to $2.68 billion, compared to the $2.7 billion that was expected. 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.

In an interview tied to BlackRock's second-quarter earnings, Fink told Reuters that US growth rates would likely be around 2 percent to 2.5 percent, echoing comments last week by Federal Reserve Chair Janet Yellen. During the same period in the prior year, the firm earned $4.25 EPS.

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As the earnings date approaches, we can see that insider ownership is now 1.80% shares, and institutional ownership is at 85.60% for BlackRock, Inc.

The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Monday, June 5th were paid a dividend of $2.50 per share. The ex-dividend date was set for Thursday the 1st of June 2017. This represents a $10.00 annualized dividend and a yield of 2.28%. BlackRock's dividend payout ratio (DPR) is presently 49.14%.

BlackRock, Inc. (NYSE:BLK)'s stock had its "hold" rating reiterated by investment analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday. As of the end of the quarter Franklin Street Advisors Inc /nc had bought 2,754 shares growing its holdings by 9.1%. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & worldwide trademark & copyright law. The original version of this story can be read at https://baseballnewssource.com/markets/blackrock-inc-nyseblk-shares-sold-by-papp-l-roy-associates-updated/1141282.html.

BLK has been the subject of several analyst reports. Finally, Wells Fargo & Company reissued a "market perform" rating and set a $425.00 price objective (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. 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.

Sell-side analysts have also provided a consensus recommendation of 2.10 on company shares. Deutsche Bank AG increased their price target on shares of BlackRock from $447.00 to $449.00 and gave the stock a "buy" rating in a research note on Tuesday, July 4th.

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