TORONTO, May 22, 2024 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the final May 2024 cash distributions for the iShares Premium Money Market ETF. Unitholders of record on May 23, 2024 will receive cash distributions payable on May 31, 2024. Details regarding the final “per unit” distribution amounts are as follows: Fund NameFund Ticker Cash Distribution Per Unit ($) iShares Premium Mo ...

Company Performance - BlackRock (BLK) closed at $805.19, reflecting a -0.87% change from the previous session, underperforming the S&P 500 which gained 0.09% [1] - Over the past month, BlackRock's shares appreciated by 8.3%, outperforming the Finance sector's gain of 7.41% and the S&P 500's gain of 5.78% [1] - The upcoming earnings report is expected to show an EPS of $9.96, a 7.33% increase from the prior-year quarter, with revenue projected at $4.89 billion, indicating a 9.66% increase year-over-year [1] Full Year Estimates - For the full year, earnings are projected at $41.31 per share and revenue at $20.21 billion, representing changes of +9.37% and +13.19% from the prior year [2] - Recent shifts in analyst projections for BlackRock are important, as positive estimate revisions are seen as a good sign for the company's business outlook [2] Zacks Rank and Valuation - BlackRock currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having moved 0.29% higher over the last 30 days [3] - The company has a Forward P/E ratio of 19.66, which is a premium compared to the industry average of 10.36 [3] - BlackRock's PEG ratio stands at 1.68, compared to the Financial - Investment Management industry's average PEG ratio of 0.96 [3] Industry Context - The Financial - Investment Management industry is ranked 148 in the Zacks Industry Rank, placing it in the bottom 42% of over 250 industries [4] - The Zacks Industry Rank measures the strength of industry groups, indicating that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [4]

Boaz Weinstein, founder and chief investment officer of Saba Capital Management, during the Bloomberg Invest event in New York, US, on Wednesday, June 7, 2023.Boaz Weinstein, the hedge fund investor on the winning side of JPMorgan Chase's $6.2 billion, "London Whale" trading loss in 2011, is now taking on index fund giant BlackRock. On Friday, Weinstein's Saba Capital detailed in a presentation seen by CNBC its plans to push for change at 10 closed-end BlackRock funds that trade at a significant discount to ...

MILAN, ITALY - APRIL 10: The logo of American multi-national investment company BlackRock is ... [+] pictured during "Il Salone del Risparmio" at Allianz MiCo on April 10, 2024 in Milan, Italy. "Il Salone del Risparmio" is the Italian largest event in the asset management industry. (Photo by Emanuele Cremaschi/Getty Images)Getty ImagesBlackRock’s stock (NYSE: BLK) has given negligible returns YTD as compared to the 11% rise in the S&P500 index over the same period. Further, at its current price of $816 per ...

TORONTO, May 15, 2024 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE:BLK), today announced the May 2024 cash distributions for the iShares ETFs listed on the TSX or Cboe Canada which pay on a monthly basis, as well as iShares S&P/TSX 60 Index ETF (XIU) and iShares Canadian Real Return Bond Index ETF (XRB). Unitholders of record of a fund, with exception of XRB, on May 23, 2024 will receive cash distributions p ...

Financial Performance - BlackRock reported total revenue of $4.728 billion for the three months ended March 31, 2024, an increase of 11.5% from $4.243 billion in the same period of 2023[98]. - Operating income for the same period was $1.693 billion, reflecting a $255 million increase and an operating margin of 35.8%, up 190 basis points year-over-year[100]. - Diluted earnings per share increased to $10.48, a 37% rise from $7.64 in the prior year[100]. - Total revenue for Q1 2024 was $4,210 million, compared to $3,738 million in Q1 2023, representing a 12.7% year-over-year growth[104]. - Adjusted operating income for Q1 2024 was $1,775 million, up from $1,511 million in Q1 2023, reflecting a 17.5% increase[104]. - Net income attributable to BlackRock, Inc., as adjusted, was $1,473 million for Q1 2024, compared to $1,200 million in Q1 2023, marking a 22.7% increase[106]. - Diluted earnings per share, as adjusted, for Q1 2024 was $9.81, up from $7.93 in Q1 2023, indicating a 23.6% increase[106]. - Total expenses for the three months ended March 31, 2024, increased by $230 million, or 8%, compared to the same period in 2023, reaching $3,035 million[134]. Assets Under Management (AUM) - Assets under management (AUM) reached $10.5 trillion as of March 31, 2024, compared to $9.09 trillion a year earlier, representing a 15.5% increase[98]. - Long-term AUM increased by $76,414 million in Q1 2024, with net inflows of $57,190 million during the quarter[109]. - The retail segment AUM grew to $973,985 million in Q1 2024, up from $876,979 million in Q1 2023, a 11.0% increase[109]. - Institutional active AUM reached $1,961,376 million, up from $1,778,340 million in Q1 2023, representing a 10.3% increase[109]. - Total Assets Under Management (AUM) reached $10,472,500 million as of March 31, 2024, up from $10,008,995 million at December 31, 2023, representing a growth of 4.6%[110]. - Net inflows for the three months ended March 31, 2024, were $57,190 million, while net outflows for the twelve months ended March 31, 2024, totaled $235,568 million[110]. - Equity AUM increased to $5,717,852 million from $5,293,344 million year-over-year, reflecting a growth of 8.0%[110]. - Fixed income AUM remained stable at $2,805,745 million compared to $2,804,026 million at the end of 2023, with net inflows of $41,736 million for the quarter[110]. - Multi-asset AUM grew to $906,597 million from $870,804 million, marking an increase of 4.0%[110]. - Alternatives AUM totaled $296,524 million, up from $275,984 million, with net inflows of $11,160 million for the quarter[110]. - Cash management AUM decreased to $745,782 million from $764,837 million, indicating a decline of 2.0%[110]. Acquisitions and Investments - BlackRock announced the acquisition of Global Infrastructure Partners for $3 billion in cash and approximately 12 million shares, expected to close in Q3 2024[95]. - The company completed the acquisition of SpiderRock Advisors in May 2024, enhancing its capabilities in customized option overlay strategies[96]. - The Company’s investments, as adjusted, reached $8.408 billion as of March 31, 2024, compared to $7.874 billion on December 31, 2023[148]. Tax and Income - The effective tax rate for Q1 2024 was 15.6%, down from 25.0% in Q1 2023, contributing to improved net income[100]. - The company recognized a discrete tax benefit of $137 million related to the reorganization of its global intellectual property and technology platform[106]. - Income tax expense for the three months ended March 31, 2024, included a discrete tax benefit of $137 million related to a reorganization of the global intellectual property and technology platform[138]. Cash Flow and Liquidity - Cash and cash equivalents increased from $288 million on December 31, 2023, to $382 million on March 31, 2024[145]. - Net cash provided by operating activities, excluding the impact of CIPs, was $242 million for the three months ended March 31, 2024[154]. - Cash flows used in investing activities for the same period were $378 million, primarily due to $476 million in net investment purchases[154]. - Cash flows provided by financing activities amounted to $707 million, mainly from $3.0 billion in proceeds from long-term borrowings related to the GIP Transaction[154]. - Total liquidity resources increased by $544 million during the three months ended March 31, 2024, totaling $13,992 million[156]. Market and Economic Exposure - The Company's net exposure to equity market price risk was approximately $1.9 billion, with a hypothetical 10% adverse change estimated to decrease carrying value by $187 million[168]. - The Company was exposed to interest rate and credit spread risk from approximately $2.5 billion in investments in debt securities, with a hypothetical 100 basis point fluctuation estimated to impact carrying value by $43 million[168]. - The carrying value of total economic investment exposure in foreign currencies was approximately $1.1 billion, with a hypothetical 10% adverse change estimated to result in a $108 million decline[168].

J Studios Overview BlackRock TCP Capital Corp (NASDAQ:TCPC) is a business development company that operates as a subsidiary of BlackRock (BLK). This BDC's main objective is a deliver total returns through the combination of high income and capital appreciation when possible. TCPC invests in middle market companies by taking on senior debt and providing financing solutions to companies seeking a source of capital. Since this BDC operates as a subsidiary of BlackRock, one's first assumption would be that ...

BlackRock Inc. (BLK) has completed the acquisition of SpiderRock Advisors, LLC, which is a leading provider of option overlay-based strategies for separately managed accounts (SMAs). This strengthens the company’s capabilities to provide a robust platform to its clients with customized SMA solutions.SpiderRock will be integrated into BlackRock’s U.S. Wealth Advisory business, which managed $186 billion in U.S. Wealth SMAs as of Dec 31, 2023.Eve Cout, head of the Portfolio Design & Solutions pillar of BlackR ...

BlackRock Inc. (BLK) enters into an agreement with Public Investment Fund (PIF) to establish a Riyadh-based multi-asset class investment platform. The platform will be backed by an initial cash injection of up to $5 billion by the PIF, subject to certain milestones achieved.BlackRock Saudi Arabia intends to establish BlackRock Riyadh Investment Management (BRIM) in collaboration with PIF to encompass investment strategies across a diverse range of asset classes, which would be managed by a Riyadh-based port ...

The investment coincides with BlackRock's selection of Securitize as the transfer agent of its first tokenized fund on a public blockchain. MIAMI, May 1, 2024 /PRNewswire/ -- Securitize, the leader in tokenizing real-world assets, today announced the successful completion of a $47 million funding round led by BlackRock (Nasdaq: BLK). The strategic investment also includes funding from Hamilton Lane (Nasdaq: HLNE), ParaFi Capital, and Tradeweb Markets (Nasdaq: TW). This investment underscores Securitize's in ...