BlackRock Starts Strong In 2024 With Q1 AUM & Fees Surge, Stock Gains
Portfolio Pulse from Lekha Gupta
BlackRock, Inc. (NYSE:BLK) reported strong first-quarter FY24 results with an 11% revenue growth to $4.728 billion, surpassing consensus estimates. The company saw increases in investment advisory, administration fees, and technology services revenue, alongside a net inflow of $57 billion. Adjusted operating income and EPS also rose significantly. Total AUM reached $10.5 trillion. BLK announced a quarterly dividend of $5.10 and share repurchases worth $375 million. The company is focusing on growth in infrastructure, technology, and retirement solutions. BlackRock also issued $3 billion in debt for an acquisition and is considering selling a U.K. gas pipeline network. BLK shares rose 2.68% in premarket trading.
April 12, 2024 | 11:22 am
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POSITIVE IMPACT
BlackRock reported strong Q1 FY24 results with revenue and EPS growth, increased AUM, and a positive outlook on growth areas. Announced a quarterly dividend and share repurchases.
The positive earnings report, dividend announcement, and share repurchase program are likely to boost investor confidence and demand for BLK shares, leading to a short-term price increase.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Madison ETFs Trust Madison Dividend Value ETF (DIVL) provides another avenue for investors to benefit from BlackRock's performance, possibly attracting more investment.
As BlackRock demonstrates strong financial health and growth, DIVL, which includes BLK in its portfolio, may see a positive impact on its performance and attract more investors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Investors can gain exposure to BlackRock's strong performance through Fidelity Disruptive Finance ETF (FDFF), which may see increased interest.
Given BlackRock's positive earnings and its inclusion in FDFF's holdings, the ETF may experience increased investor interest and potential gains in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70