Tomahawk, WI 7/26/2013 (Basicsmedia) – BlackRock, Inc. (NYSE:BLK), an investment management firm, provides a range of services and products related to investment and risks management, offering tailored solutions for its clients. It offers a wide range of products including single and multi asset portfolios, equity investment services, fixed income, and money market instruments. Blackrock, Inc. recently acquired Credit Suisse’s exchange traded funds (ETF) business in July this year.

Blackrock announced its 2Q2013 results on Thursday, July 18, 2013. The Firm quoted its earnings for the quarter at $4.15 EPS, up 34% compared to 2012. This figure comfortably topped the analysts’ average forecast of $3.82 earnings per share. The operating income was quoted at $982 million, an 18% increase from the same period last year, reflecting a record base fees and a continued improvement in margin during the quarter. There was an increase of $22 million in the market value of the Company accredited to non-operating results, and a non-cash pre-tax gain of $39 million relating to the PennyMac IPO. In the quarter, the Company was also benefited by $29 million from a number of tax items.

Despite the investors pulling out money expecting changes in the Federal Reserve’s stimulus program, the Company was able to pull $11.9 billion in its new business during the quarter. A whopping 90 percent of this $11.9 billion was earned from its multi-asset products, with an inflow of $11.1 billion. Net income of the Company aggregated at $729 million, or $4.19 per share, against the last year income of $554 million, or $3.08 per share. The company evaluated its assets at the end of quarter at $3.9 trillion, to include latest monetary and market gains with a record base fees generation of $2.2 billion.

Laurence D. Fink, Chief Executive Officer, said that the Company had the potential to further raise its assets by about 5% every year. The Company is planning to introduce a series of new exchange-traded funds to meet the requirements of its clients and to expand its reach among investors.

Meanwhile, on Thursday, July 25, 2013, the Blackrock’s Board of Directors declared a cash dividend of $1.68 per share for the quarter, to be paid to its shareholders on September 23, 2013. The dividend will be paid in cash and would be applicable to all its recorded shareholders as on the day of Tuesday, September 3, 2013.

The stock was up 5.65% in the last five days to close at $284.98 on Thursday, July 25, 2013, up 0.36% from its previous close. The share prices for Blackrock were range bound between $281.25 and $286.53, after opening at $282.21 in the morning. The average traded volume for the day declined to almost half of its average daily traded volume for past three months at 580K.

Blackrock, Inc. has been performing well consistently throughout the year. The share prices are up 64.43% in the last one year. The gain in the stock price during the last six months and last one month is recorded at 20.54% and 12.83% respectively.

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