Published: Mon, July 17, 2017
Business | By Max Garcia

BlackRock, Inc. 2Q 2017 Earnings: EPS, Revenue Miss Estimates

BlackRock, Inc. 2Q 2017 Earnings: EPS, Revenue Miss Estimates

Pioneer Investment Management Inc. boosted its position in BlackRock by 22.7% in the first quarter. (NYSE:BLK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). Adirondack Trust Co. now owns 450 shares of the asset manager's stock valued at $172,000 after buying an additional 30 shares in the last quarter. Segall Bryant & Hamill LLC's holdings in BlackRock were worth $298,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in shares of BlackRock by 51.0% in the fourth quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in BlackRock by 95.5% in the fourth quarter. Bank of New York Mellon Corp raised its position in shares of BlackRock by 0.7% in the first quarter.

More than ever, Mr. Fink is positioning BlackRock to focus on such systematic investment strategies as basic index funds, E.T.F.s and blended strategies like smart beta and factors that target investment themes like momentum and low volatility.

Assets under management were $5.689 trillion versus $5.66 trillion expected by StreetAccount. JNBA Financial Advisors increased its position in shares of BlackRock by 0.4% 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.

Homrich & Berg bought a new position in BlackRock, Inc.

Shares of BlackRock, Inc. (NYSE:BLK) shares have seen a move of 15.19%. BLK's current price-earnings ratio amounts to 21.54 times earnings, below the average P/E ratio of 125.21 times earnings.

The biggest institutional shareholders in BlackRock, Inc. include Government Pension Fund of Norway - Global which owns 12 million shares in the company valued at $3.74 B million. The firm's 50-day moving average price is $410.09 and its 200-day moving average price is $390.31.

BlackRock's net income rose 8.6 percent to $857 million.

On average, 13 analysts polled by Thomson Reuters expected earnings of $5.39 per share for the quarter. During the same period in the prior year, the firm posted $4.25 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Excluding non-recurring items, adjusted earnings per share came to $5.24, below the FactSet EPS consensus of $5.40.

The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. The dividend payment was $2.500 per share for the quarter which is $10.00 annualized. The ex-dividend date was set for Thursday the 1st of June 2017. BlackRock's dividend payout ratio is now 49.14%.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Markets Daily and is owned by of Markets Daily. The legal version of this piece can be accessed at https://sportsperspectives.com/2017/07/17/b-t-capital-management-dba-alpha-capital-management-acquires-shares-of-5560-blackrock-inc-nyseblk.html. (BLK - Free Report) performed in Q2 in comparison with the market expectations? Deutsche Bank AG restated a "buy" rating and issued a $441.00 price target (down previously from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. Keefe, Bruyette & Woods reissued a "hold" rating and issued a $440.00 price target on shares of BlackRock in a report on Friday. 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 note on Tuesday, June 20th.

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