A congressional investigation found that Wall Street used billions of dollars of American retirement savings and other investments to buy shares in index funds that included several blacklisted Chinese companies, the Wall Street Journal reported Thursday.The probe, conducted by a bipartisan House committee empowered to devise strategies for the US to counter China, focused on world’s largest asset manager BlackRock, headed by Larry Fink, and index provider MSCI, the report said.BlackRock and MSCI did not im ...

BlackRock (BLK) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Shares of this investment firm have returned -7.8% over the past month versus the Zacks S&P 500 composite's -1.7% change. The Zacks Financial - Investment Management industry, to which BlackRock belongs, has lost 3.5% over this period. Now the key question is: Where could the stock be headed in the ne ...

Well-established companies with a long history of operations are your best road to riches. In today’s market, several blue-chip stocks to buy now are still trading at reasonable multiples.If you are looking for safe investments, blue-chip stocks to buy now provide stable returns at lower relative risk. Since these are dominant stocks in their industry, they generate steady growth throughout the economic cycle. They also exhibit healthy profitability and have high returns on equity.Another distinguishing cha ...

Instagram is a massively popular social media platform that allows users to upload photos and videos, record live content, edit it, and share it publicly or with followers. Exerting huge influence and shaping trends in fashion, aesthetics, and lifestyle, it serves as a creativity and business hub for billions of people worldwide. Today’s article will uncover who owns Instagram and how it’s connected to Meta (NASDAQ: META), its parent company.Who owns Instagram?Engaging an audience of more than 2 billion mon ...

Key PointsEarnings season is here for financial stocks, letting investors gauge the actual state of the stock market. Goldman Sachs is up, and the bank's results align with BlackRock's thinking; the market top isn't here yet. The business cycle is just starting; investors may safely stick to their favorite stocks. 5 stocks we like better than Financial Select Sector SPDR FundThe most expected time of the quarter is here. Earnings season for financial stocks has kicked off, letting investors gain insight int ...

Tzido/iStock via Getty Images Thesis We covered the BlackRock Flexible Income ETF (NYSEARCA:BINC) shortly after its inception almost a year ago. In our original piece, we described the new fund and the intent of the asset manager in a macro environment that was favorable to fixed income funds. We are going to re-visit this name close to its 1-year anniversary, and on the back of a violent upwards swing in rates in the past few weeks. In our article, we are going to highlight why today's environment is ideal ...

India’s Jio Financial Services has launched a joint venture with BlackRock.The collaboration will establish a wealth management and brokering business in India, and comes less than a year after the two companies began an asset management venture, Reuters reported Monday (April 15).Jio, part of the Reliance Group, said the venture is designed to tap into the lucrative wealth business in India, and will include the incorporation of a wealth management firm and, eventually, a brokerage company.The Reuters repo ...

DUBAI, UNITED ARAB EMIRATES - DECEMBER 04: Larry Fink, CEO of Blackrock, speaks at a roundtable discussion titled: "Financing the New Climate Economy," during which he described the urgent need for a "new financial landscape" for funding investments into the global energy transition on day five of the UNFCCC COP28 Climate Conference at Expo City Dubai on December 04, 2023 in Dubai, United Arab Emirates. The COP28, which is running from November 30 through December 12, is bringing together stakeholders, incl ...

Financial Data and Key Metrics - The company ended Q1 2024 with a record AUM of nearly $10.5 trillion, a 15% increase from the previous year [6][9] - Q1 revenue was $4.7 billion, up 11% year-over-year, driven by market appreciation and higher performance fees [10] - Operating income increased by 17% to $1.8 billion, and EPS rose 24% to $9.81 [11] - The company achieved a 180 basis points margin expansion, with an adjusted operating margin of 42.2% [17] - Long-term net inflows were $76 billion, with $100 billion excluding low-fee institutional index equity flows [8][10] Business Line Performance - ETFs saw net inflows of $67 billion, led by core equity and fixed income ETFs [20] - Retail net inflows were $7 billion, driven by growth in Aperio and active fixed income [21] - Institutional active net inflows were $15 billion, primarily from LifePath target date franchise and outsourcing mandates [22] - Private markets franchise saw $1 billion of net inflows, with $3 billion in fund monetization and LP distributions [22] - Cash management platform experienced $19 billion of net outflows, in line with industry trends [23] Market Performance - The company saw broad-based momentum across client channels and regions, with AUM up $1.4 trillion year-over-year [9] - The Bitcoin ETF (IBIT) gathered $14 billion in net inflows after its January launch [20] - European iShares maintained a 30% market share of inflows, with $850 billion in AUM [83] Strategic Direction and Industry Competition - The company is focused on structural growth areas like ETFs, private markets, model portfolios, and technology [7] - The planned acquisition of GIP is expected to enhance the company's infrastructure platform and private markets capabilities [18][33] - The company is innovating in digital assets, with the launch of a tokenized fund and a minority investment in Securitize [35] - The LifePath Paycheck initiative is expected to transform retirement solutions, with 14 sponsors already on board [42][78] Management Commentary on Market Environment and Future Outlook - Management highlighted the growing demand for infrastructure investments, driven by AI, data centers, and energy needs [31][32] - The company sees significant opportunities in private markets, particularly in infrastructure and private credit [63][64] - Management expressed optimism about the momentum in 2024, with a strong pipeline of opportunities across client channels and regions [24][45] Other Important Information - The company repurchased $375 million worth of common shares in Q1 and plans to continue repurchasing at least $375 million per quarter for the rest of the year [19] - The company issued $3 billion of debt to fund the GIP acquisition, with the transaction expected to close in Q3 2024 [19] Q&A Session Summary Question: When can the company achieve 5% organic growth, and is it achievable at the current AUM size? - Management expressed confidence in achieving 5% organic growth, citing strong momentum in base fee growth and a robust pipeline of mandates [47][48][49] Question: How is the company balancing investment spend with margin expansion? - The company is focused on driving operating leverage through technology investments, automation, and AI, while maintaining a low to mid-single-digit increase in core G&A expenses [52][53][54] Question: What is the competitive landscape for fixed income retail and ETFs? - The company noted strong demand for active fixed income strategies, particularly in high-yield and unconstrained bond funds, with 93% of taxable fixed income AUM outperforming benchmarks over the last five years [58][59] Question: Will the company pursue more acquisitions in private markets post-GIP? - While the GIP acquisition is a priority, the company remains open to other private market opportunities that align with its strategic goals [63][66] Question: What is the outlook for performance fees and compensation ratios? - Performance fees of $204 million in Q1 were driven by strong private equity and hedge fund performance, with expectations of continued alignment between performance fees and client outcomes [72][73] Question: How will LifePath Paycheck contribute to organic growth? - LifePath Paycheck is expected to be a significant driver of future organic growth, with 14 corporations preparing to implement the solution and strong interest from clients globally [76][78][80] Question: How is the company positioned in the European ETF market? - The company maintains a strong leadership position in Europe, with 30% market share and $850 billion in AUM, driven by favorable regulatory trends and private banking demand [82][83]

For the quarter ended March 2024, BlackRock (BLK) reported revenue of $4.73 billion, up 11.4% over the same period last year. EPS came in at $9.81, compared to $7.93 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $4.69 billion, representing a surprise of +0.87%. The company delivered an EPS surprise of +4.14%, with the consensus EPS estimate being $9.42.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they c ...