Investment managerBlackRock (
) has come a long way from its roots as a risk management and
It's now one of the biggest asset managers in the world with a
formidable presence in the exchange-traded fund (
In December 2009, BlackRock acquired Barclays Global
Investors, including its iShares ETF platform, from
U.K.-basedBarclays PLC (
) for about $13.5 billion. IShares is currently the largest ETF
provider in the world with more than 500 funds and more than $645
billion in assets under management.
In October, BlackRock reported third-quarter earnings and
sales growth that was in line with expectations. Earnings rose
12% from a year ago to $3.88 a share. Sales rose 7% to $2.47
billion. Long-term net inflows totaled more than $25 billion in
the quarter. About 80%, or $20 billion, flowed into the company's
BlackRock also has solid mutual fund sponsorship. Fidelity
Contrafund increased its position in the latest quarter.
BlackRock hasn't been shy about making deals to beef up its
business. In 2004, it bought State Street Research &
Management from MetLife for about $375 million. In 2006, it
acquired Merrill Lynch's investment management business.
Last month, it completed the acquisition of MGPA, a
private-equity real estate investment advisory company in
Asia-Pacific and Europe. The deal almost doubles the amount of
money that BlackRock has invested in real estate around the world
to $25 billion.
CEO Laurence Fink isn't afraid to opine about the markets.
Last week at the annual meeting for the Securities Industry and
Financial Markets Association in New York, Fink said the Federal
Reserve should start tapering in December or risk creating a
In September the company paid a quarterly dividend of $1.68 a
share. It currently yields 2.2% on an annualized basis.