Blackrock ( BLK ) reported better-than-expected fourth-quarter earnings and revenue early Friday and hiked its divided by 15%.
[ibd-display-video id=3079086 width=50 float=left autostart=true] The asset management giant earned $6.24 a share, up 21% vs. a year earlier. Revenue climbed 20% to $3.469 billion Analysts had expected earnings of $6.07 a share with revenue of $3.354 billion.
Assets under management swelled to $6.29 trillion vs. $5.98 billion at the end of Q3 and $5.15 trillion a year earlier. Inflows into exchange traded funds (ETFs) were a big factor.
BlackRock's board approved a 15% rise in the quarterly dividend to $2.88 a share.
Shares of Blackrock jumped 3.2% to 555.27 on the stock market today , hitting a new record high.
Blackrock's relative strength line, which tracks a stock's performance vs. the S&P 500 index, is also at record highs. The RS line has been on a gradual uptrend since early May, in contrast to many big financials.
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