BlackRock Inc. (BLK) is a global investment manager with $8.68 trillion in assets under management as of December 31, 2020. With clients in more than 100 countries around the world, the company’s diverse platform of active, index, and cash management strategies serve both institutional and retail clients.
The company’s assets under management are primarily concentrated in equities (51%), fixed income (31%), multi-asset (8%), and alternatives (3%) with the remainder in cash management and advisory during 2020. In geographic terms, the company generated revenue in the Americas (65%), the EMEA region (28%), and the Asia Pacific region (7%).
Strong Q4 Financial Results
BlackRock reported fourth quarter revenue that rose 12.6% to $4.48 billion, beating consensus estimates by $200 million, with non-GAAP earnings of $10.18 per share, beating consensus estimates by $1.15 per share. The company’s assets under management also came in higher than consensus analyst estimates at $8.67 trillion.
Despite the strong financial results and inflows across its product offerings, the company’s soft adjusted operating margin guidance came as a disappointment to investors and analysts. The company plans to shift money that was normally earmarked for travel to technology and market data investments, along with sustainability and other initiatives.
However, the company raised its quarterly dividend to $4.13 per share, which represents a 2.3% forward yield. The dividend is payable on March 23, 2021 to shareholders on record as of March 5, 2021.
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