BlackRock (NYSE:BLK) announced its quarterly earnings results on Tuesday. The asset manager reported $9.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.45 by $1.77, MarketWatch Earnings reports. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $3.89 billion. BlackRock had a return on equity of 14.17% and a net margin of 29.55%. BlackRock’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted $7.15 earnings per share.
Shares of BLK opened at $638.96 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.02. BlackRock has a one year low of $323.98 and a one year high of $646.29. The stock has a market capitalization of $97.43 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 1.94 and a beta of 1.23. The stock has a 50 day moving average price of $570.96 and a 200 day moving average price of $537.88.
In other BlackRock news, Director J. Richard Kushel sold 2,182 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $574.39, for a total value of $1,253,318.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 41,706 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $580.29, for a total value of $24,201,574.74. The disclosure for this sale can be found here. Insiders have sold 47,248 shares of company stock valued at $27,405,326 over the last quarter. 1.42% of the stock is owned by company insiders.
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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