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Blackrock Earnings Top As ETF Demand Pushes Assets Above $6 Trillion

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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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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