Vanguard Group, Inc. is one of the world’s largest investment firms, with $7.7 trillion in assets under management (AUM). The finance giant shocked the market by refusing to offer the recently approved Bitcoin ETFs to its brokerage’s customers.On January 11, Vanguard prevented its customers from gaining exposure to Bitcoin (BTC) through the now legally approved ETFs. As reported by The Block, a company’s spokesperson explained that crypto-related products do not align with its investment vision.“We also hav ...

BlackRock Q4 Performance - BlackRock reported Q4 earnings of $9 66 per share, surpassing the Zacks Consensus estimate of $8 47 by 9% and increasing 8% year-over-year [2] - Q4 sales reached $4 63 billion, slightly exceeding estimates of $4 62 billion and growing 7% compared to the prior-year quarter [2] - The company has exceeded earnings expectations for six consecutive quarters [2] BlackRock's Strategic Acquisition - BlackRock announced the acquisition of Global Infrastructure Partners (GII) for approximately $12 billion, creating a leading infrastructure platform valued at over $150 billion [3] - The deal positions BlackRock to meet fast-growing investor demand in infrastructure, a segment forecasted to be one of the fastest-growing in private markets [3] - CEO Larry Fink described the acquisition as transformational [3] Goldman Sachs Q4 Preview - Goldman Sachs' Q4 earnings are anticipated to rise 4% to $3 47 per share, with sales projected to increase 1% to $10 71 billion [4][5] - The Zacks ESP indicates Goldman Sachs should meet earnings expectations, with the Most Accurate Estimate aligning with the Zacks Consensus at $3 47 per share [5] - The company recently topped Q3 earnings expectations by 3% in October but has missed estimates twice in its last four quarterly reports [6] Earnings History and Expectations - Goldman Sachs' reported earnings for the quarter ending September 2023 were $5 47 per share, with an average surprise of -7 80% [7] - The Zacks Consensus Estimate for the current year (2023) and next year (2024) are $21 26 and $32 21, respectively, with the Most Accurate Estimate slightly higher at $32 83 for 2024 [6] Stock Performance and Rankings - BlackRock's stock currently holds a Zacks Rank 2 (Buy), while Goldman Sachs has a Zacks Rank 3 (Hold) [8] - Both firms are expected to sustain robust financial performance, with BlackRock standing out due to its consistent earnings beats [8]

BlackRock, Inc. (NYSE:BLK) Q4 2023 Earnings Conference Call January 12, 2023 7:30 AM ET Company Participants Laurence Fink - Chairman and Chief Executive Officer Martin Small - Chief Financial Officer Christopher Meade - General Counsel and Chief Legal Officer Robert Kapito - President Adebayo Ogunlesi - Global Infrastructure Partners, Founder and Chief Executive Officer Conference Call Participants Craig Siegenthaler - Bank of America Michael Cyprys - Morgan Stanley Michael Brown - KBW Brian Bedell - Deuts ...

Spencer PlattIntroduction The financial sector is exciting these days, with the Federal Reserve preparing to lower the interest rates. While some banks may suffer from lower rates on their loans, other institutions look forward to an increase in the valuation of assets as more capital will flow into risk assets. Investment banks and managers will likely benefit from the lower rates as money used to gain real interest in cash will flow again to stocks, bonds, and alternative assets. One leading investmen ...

KEY TAKEAWAYSBlackRock is buying Global Infrastructure Partners for approximately $12.5 billion.The acquisition will help BlackRock expands its focus on infrastructure, and is expected to close in the third quarter of 2024.The deal was announced as BlackRock released fourth-quarter results that beat forecasts and saw the firm's assets cross the $10 trillion mark.BlackRock (BLK) is buying Global Infrastructure Partners for $12.5 billion, as the world's largest asset manager expands its focus on infrastructur ...

BlackRock, Inc.’s (BLK) fourth-quarter 2023 adjusted earnings of $9.66 per share handily surpassed the Zacks Consensus Estimate of $8.84. The figure reflects an increase of 8.2% from the year-ago quarter.The quarterly results benefited from a rise in revenues and higher non-operating income. Further, the assets under management (AUM) balance witnessed an improvement owing to net inflows. However, higher expenses acted as a dampener. Shares of BLK are trending marginally lower in the pre-market trading sessi ...

BlackRock said Friday it would buy Global Infrastructure Partners for $12.5 billion in a major bet on alternative assets and announced a shake-up of its top management.The deal, which includes $3 billion in cash and 12 million BlackRock shares, will put the asset management giant at the heart of investing in ports, power, and digital infrastructure projects around the globe. Once the deal closes, the firm will hold approximately $150 billion in infrastructure assets across a portfolio that ranges from the ...

BlackRock has splashed out US$12.5bn to beef up its alternatives and infrastructure portfolio through the acquisition of Global Infrastructure Partners (GIP). Already the world’s largest fund manager, GIP brings with the US$100bn portfolio containing airports, such as London’s Gatwick, toll roads and bridges, green energy projects and data centres. Adebayo Ogunlesi, GIP’s founder, will join the Blackrock board on completion of the shares and cash deal. “The unprecedented need for new infrastructure – for di ...

BlackRock (NYSE:BLK) stock is in the news Friday after the investment firm announced its plans to acquire Global Infrastructure Partners in a massive deal.BlackRock is offering $3 billion in cash and 12 million shares of BLK stock to acquire Global Infrastructure Partners. The stock portion of the deal has 30% of the total value of the offer deferred for roughly five years.Considering the price of BLK stock, the offer for Global Infrastructure Partners totals roughly $12.5 billion. That makes it the largest ...

From the humble luggage tray to filters that mask smells at sewage plants, the sale of some of Britain’s most pedestrian assets to the world’s largest money manager is to bring a multimillion-dollar payday to a small clutch of little known bankers.Global Infrastructure Partners (GIP), which boasts a $100bn (£79bn) collection of companies including Gatwick airport and the Suez wastewater group, has been sold to the US investment firm BlackRock in a $12.5bn deal.The price tag puts each of GIP’sfounders and pa ...