BlackRock Founders as Q2 Earnings Fail to Reach Goal

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

Hartland & Co. LLC bought a new position in BlackRock, Inc. After a recent check, company stock has been trading near the $438.34 mark. Segall Bryant & Hamill LLC increased its position in BlackRock by 5.4% in the first quarter. The institutional investor owned 3,289 shares of the asset manager's stock after buying an additional 6 shares during the period. Eqis Capital Management Inc. boosted its position in BlackRock by 0.5% in the first quarter. Sun Life Financial INC bought a new position in shares of BlackRock during the first quarter valued at about $91,954,000. Norges Bank is the second biggest holder with 8 million shares now valued at 3.10 B million whilst Vanguard Group Inc has 8 million shares valued at 2.99 B million. Wells Fargo & Company MN raised its stake in BlackRock by 4.1% in the first quarter. For the past 5 days of trading, the stock has seen a move of 1.38%. Ladenburg Thalmann Financial Services Inc. now owns 20,472 shares of the asset manager's stock worth $7,778,000 after buying an additional 10,833 shares during the last quarter. Corporate insiders own 1.86% of the company's stock.

BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.83. (NYSE:BLK) remains a cheap stock. The company has a market cap of $71.39 billion, a price-to-earnings ratio of 21.54 and a beta of 1.71.

Last time, the company failed Wall Street by reporting EPS of $4.76, smashing the consensus of $4.89 per share. The asset manager reported $5.25 earnings per share for the quarter, beating the Zacks' consensus estimate of $4.94 by $0.31. 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.

Advisory, administration fees and lending revenue amounted to $2.68 billion, compared to the $2.7 billion that was expected. For the last period, the company reported quarter over quarter EPS growth of 33.20% and quarter over quarter sales growth of 7.60%. On average, analysts expect that BlackRock will post $22.12 EPS for the current year.

The company 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 Thursday, June 1st. BlackRock's dividend payout ratio (DPR) is presently 49.14%.

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Sell-side analysts also have something to say about this BLK. Finally, Jefferies Group LLC reissued a "hold" rating and set a $387.00 price target on shares of BlackRock in a report on Wednesday, May 17th. The price swooned $13.53, or 3.1%, mid-morning Monday to $424.81.

On September 9 Deutsche Bank kept the company rating at "Buy" and raised the price target from $383.00 to $414.00. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. BidaskClub raised BlackRock from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 1st.

BlackRock shares slipped 0.3 percent in the premarket following the report's release. Following the completion of the sale, the director now directly owns 484,386 shares in the company, valued at $200,685,963.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Let's also take a brief look at the stock price in relation to some highs/lows and moving averages. The disclosure for this sale can be found here.

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