Strong Organic Growth and Market Gains Propel BlackRock's 1Q AUM; Raising FVE to $460 per Share
We've increased our fair value estimate for wide-moat rated BlackRock to $460 per share from $410 after updating our valuation model for changes in AUM, revenue, and profitability since our last update. The increase also includes an eventual reduction in the statutory U.S. federal income tax rate to 25% (from its current 35%), which accounted for more than three quarters of the change.BlackRock closed out the March quarter with a record $5.420 trillion in managed assets. This was about $200 bil...
BlackRock is an investment management firm. The company provides a range of investment and technology services to institutional and retail clients worldwide. Products are provided directly and through intermediaries in a variety of vehicles, including open-end and closed-end mutual funds, iShares? exchange-traded funds, separate accounts, collective investment trusts and other pooled investment vehicles. The company also provides technology services, including the investment and risk management technology platform, Aladdin?, Aladdin Wealth, eFront, Cachematrix and FutureAdvisor, as well as advisory services and solutions to a base of institutional and wealth management clients.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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