(Reuters) - BlackRock Inc, the world's biggest asset manager, reported a massive influx of cash into its low-cost funds but nonetheless fell short of Wall Street's forecasts as price cuts and lower performance fees dented revenue.
The world's largest asset manager reported second-quarter adjusted earnings per share of $5.24 on revenue of $2.965 billion. In the year-earlier period, the company had posted adjusted earnings of $4.78 per share on sales of $2.804 billion.
NEW YORK (Reuters) - BlackRock Inc (BLK.N) voted for eight proposals pushing U.S. and Canadian companies to adopt policies boosting their boards' diversity during the most recent quarter, the world's largest asset manager said on Thursday.
Those stocks are Amgen (AMGN), BlackRock (BLK), Omega Healthcare Investors (OHI), and Southern Company (SO). Today I will discuss BlackRock Inc., by far my biggest winner in the Sand in Shoes portfolio, and will share my rationale for purchasing it.
Asset management has traditionally been a great business, and BlackRock (BLK) is perhaps the best. In fact, most companies based around Wall St. (both industry and geographically), have done historically well at making their investors money.