BLK

(Bloomberg) -- BlackRock Inc. is trimming its bet on stocks across its $220 billion model-portfolio business as US equities surge to record highs following a strong earnings season. Most Read from Bloomberg Singapore Hands Byju's Founder His First Ever Jail Term Apple to Overhaul iOS 27 Siri, AI Features: Here's a First Peek CVS Returns Zepbound to Drug Plans After Lilly Slashes Price SpaceX Said to Cut IPO Value Goal to at Least $1.8 Trillion US, Iran Agree to 60-Day Truce Renewal Pending Trump Signoff The world’s largest asset manager cut its overweight position in equities from 3% to 1%, according to an investment outlook viewed by Bloomberg. The shift triggered billions of dollars of flows between BlackRock’s exchange-traded funds on Thursday, data compiled by Bloomberg showed. The move follows a “generational earnings season” for US companies, wrote Michael Gates, lead portfolio manager for BlackRock’s Target Allocation ETF model portfolio suite. The strong results, booming productivity and a stable economy has pushed the S&P 500 to records highs in recent weeks, offsetting the impact of the war with Iran and growing doubts that the Federal Reserve will lower interest rates this year, he said. But it’s becoming harder to expect over performance from equities, he cautioned. The markets have already priced the positive indicators, and “we see a narrower path ahead to avoiding potential risks,” he said. Gates said the firm remains confident in equities, and will maintain positions that bet on growing corporate profits, artificial intelligence and government spending. Model portfolios, which package together funds into ready-made strategies to be sold to financial advisers, have soared in popularity in recent years. Bloomberg Intelligence estimates that $3 trillion sits in model portfolios, roughly 22% of all ETF assets. BlackRock controls more than $220 billion in these models, up from $150 billion last year. As a result of this week’s adjustment, more than $12 billion flowed into the iShares Core S&P 500 ETF (ticker IVV) in the latest session, Bloomberg data show. Meanwhile, a record haul flooded into the iShares International Country Rotation Active ETF (CORO) to capture regions that are the most advanced in adopting AI, according to the outlook. Those inflows came at the expense of factor-focused and thematic funds, with a combined $10 billion exiting f...

NEW YORK, May 20, 2026--(BUSINESS WIRE)--BlackRock, Inc. (NYSE:BLK) today announced that its Board of Directors has declared a quarterly cash dividend of $5.73 per share of common stock, payable June 23, 2026 to shareholders of record at the close of business on June 5, 2026. About BlackRock BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate. View source version on businesswire.com: https://www.businesswire.com/news/home/20260519705495/en/ Contacts Investor Relations Caroline [email protected] Media RelationsPatrick [email protected]

It has been about a month since the last earnings report for BlackRock (BLK). Shares have added about 4.3% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is BlackRock due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts. BlackRock’s first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10.9% rise from the year-ago quarter. Results benefited from a rise in revenues. The AUM balance witnessed robust year-over-year growth, driven by net inflows. However, higher expenses created a headwind. Net income attributable to BlackRock (on a GAAP basis) was $2.21 billion, up 46.5% from the prior-year quarter. Quarterly revenues (on a GAAP basis) were $6.70 billion, outpacing the Zacks Consensus Estimate of $6.62 billion. Revenues increased 27% year over year. The rise was driven by an increase in all revenue components. Total expenses amounted to $3.88 billion, up 8.6% year over year. The increase was due to a rise in all cost components, except for the change in fair value of contingent consideration. Non-operating income (on a GAAP basis) was $28 million, down 56.9% from the prior-year quarter. BlackRock’s adjusted operating income was $2.67 billion, increasing 31% from the prior-year quarter. As of March 31, 2026, AUM totaled $13.89 trillion, reflecting a year-over-year rise of 19.9%. The company witnessed long-term net inflows of $136 billion in the reported quarter. As of March 31, 2026, the average AUM of $14.24 trillion rose 21.8% year over year. BlackRock repurchased shares worth $450 million in the reported quarter. The company expects annual contract value (ACV) growth in the low to mid-teens over the long term. BlackRock anticipates repurchasing at least $450 million of shares per quarter in 2026. The projected tax run rate is 25% for 2026. In the past month, investors have witnessed a downward trend in estimates review. Currently, BlackRock has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Following the exact same course, the stock has a grade of D on the value side, put...

Apollo Global Management, LLC’s APO first-quarter 2026 adjusted net income (ANI) per share of $1.94 missed the Zacks Consensus Estimate of $1.98. The metric increased from the year-ago adjusted net income of $1.82. Results were adversely affected by rising expenses. However, record fee-related earnings and an increased assets under management (AUM) balance were positive. The results include certain items. After considering those, the net loss attributable to Apollo Global (GAAP basis) was $1.93 billion against net income of $418 million in the prior-year quarter. Total segment revenues were $1.26 billion, surpassing the Zacks Consensus Estimate by 3.39%. The metric rose from $978 million in the year-ago quarter. Total expenses for combined segments rose 27.4% year over year to $534 million in the reported quarter. Fee-generating AUM increased 40% on a year-over-year basis to $836 billion. The rise was driven by strong capital formation across institutional and global wealth channels, $65 billion from Athora’s acquisition of Pension Insurance Corporation and $42 billion from a fee basis adjustment related to Redding Ridge, partially offset by outflows and realization activity. As of March 31, 2026, total AUM was $1.03 trillion, up 31% on a year-over-year basis. Total AUM benefited from $222 billion of inflows from Asset Management and $78 billion of gross inflows from Retirement Services, as well as mark-to-market appreciation. This was partially offset by $64 billion of outflows, primarily driven by normal course run-off at Athene, and $26 billion of realization activity. As of March 31, 2026, Apollo Global had cash and cash equivalents of $3.56 billion, and debt of $6.26 billion. The company announced a quarterly cash dividend of 56.25 cents per share with its earnings release. This dividend will be paid out on May 29, 2026, to shareholders of record as of May 19. Apollo Global repurchased $866 million of shares in the first quarter, including shares bought to substantially offset dilution from seasonally elevated share issuances under equity incentive plans and opportunistic share repurchases. Over the last 12 months, the company repurchased $1.5 billion of common stock and distributed more than $1 billion of common stock dividends. Apollo Global’s solid organic growth and rising AUM balance look encouraging. Its quarterly origination volume was robust, dr...

Shares of Blue Owl OWL gained 9.8% following the release of the company’s first-quarter 2026 results. Distributable earnings per share of 19 cents matched the Zacks Consensus Estimate. The figure reflects a rise of 12% from the prior-year quarter. Results were primarily aided by an increase in revenues. Despite the concerns surrounding private credit, the company recorded robust fundraising (reflecting continued investor interest across its client channels and across its Credit, Real Assets and GP Strategic Capital platforms), which drove assets under management (AUM). However, higher expenses hurt the results to an extent. Net income available to the company (GAAP basis) was $15.5 million, up significantly from $7.4 million in the prior-year quarter. Total GAAP revenues rose 10% year over year to $753.8 million. The rise was driven by an increase in management fees, and administrative, transaction and other fees. FRE revenues increased 13% from the prior-year quarter to $699.9 million. The Zacks Consensus Estimate for revenues was $698.6 million. Total GAAP expenses increased 6% year over year to $644.3 million. The rise was due to an increase in compensation and benefits costs. As of March 31, 2026, total AUM was $314.9 billion, up 15% year over year, primarily driven by capital raised, change in debt and appreciation across the business. Fee-paying AUM of $188.4 billion as of March 31, 2026, increased 8% from the prior-year period. The increase was driven by capital raised across the business and deployment in Credit. Permanent Capital of $224.8 billion increased 15%. In the reported quarter, the company raised $11 billion in new capital commitments. Total equity fundraise of $9 billion in the quarter was driven by $4.1 billion in Credit, $4 billion in Real Assets and $0.9 billion in GP Strategic Capital. As of March 31, 2026, Blue Owl had $190 million in cash and cash equivalents, and a revolving credit facility worth $1.1 billion. At the end of the first quarter, debt obligations stood at $3.87 billion. Blue Owl repurchased 1.7 million shares in the first quarter for $25 million. While Blue Owl’s performance in the first quarter of 2026 was solid, supported by strong fundraising, near-term pressure from private-credit liquidity strains and borrower quality worries is expected to remain a headwind for the company. Delayed fee ramp timing and elevated exp...

Federated Hermes, Inc.’s FHI first-quarter 2026 earnings per share of $1.27 topped the Zacks Consensus Estimate of $1.20. The bottom line grew 1.6% from the year-ago quarter. Higher net investment advisory fees, net administrative service fees and net other service fees are major driving factors. The company also achieved a record level of assets under management (AUM). However, the rise in expenses remained a headwind. Net income was $96.4 million in the first quarter, down 4.7% from the year-ago quarter. Total revenues increased 13.1% year over year to $478.96 million. The top line surpassed the Zacks Consensus Estimate by 0.17%. Quarterly net investment advisory fees rose 11.1% year over year to $319.4 million. Net other service fees grew 40.9% year over year to $49.3 million, and net administrative service fees rose 9.1% to $110.3 million. In the first quarter, Federated Hermes derived 54% of its revenues from money-market assets, 45% from long-term assets and 1% from sources other than managed assets. Total operating expenses increased 20.9% year over year to $352.6 million. FHI recorded a net non-operating income of $3.4 million, down from $4.3 million in the prior-year quarter. As of March 31, 2026, cash and other investments and total long-term debt were $645.4 million and $348.4 million, respectively. This compares to $724.3 million and $348.4 million, respectively, as of Dec. 31, 2025. As of March 31, 2026, total managed assets were at a record level of $907.1 billion, up 8% year over year. FHI reported record money-market assets of $684.7 billion, up 7% year over year. Fixed-income assets increased marginally to $99.8 billion. Equity assets of $100.8 billion increased 25% from the prior-year quarter. Alternative/private market assets declined 2% year over year to $19 billion. Average managed assets totaled $915.6 billion, up 9% year over year. The company repurchased 1,191,300 shares of its class B common stock in the reported quarter for $66 million. Federated Hermes also declared a dividend of 38 cents per share, up 11.8% from the previous quarter. The dividend is payable May 15, 2026, to shareholders of record as of May 8, 2026. Federated Hermes delivered a strong quarter with solid growth in revenues and AUM, supported mainly by its money-market and equity asset segments. Although operating expenses rose, revenue growth helped maintain momentu...

Apollo Global Management, Inc. APO is scheduled to announce first-quarter 2026 results on May 6, before market open. APO’s quarterly earnings and revenues are expected to have increased from the year-ago reported levels. In the last reported quarter, Apollo’s earnings topped the Zacks Consensus Estimate. Results were primarily aided by an increased assets under management (AUM) balance. However, rising expenses acted as a headwind in the quarter. APO’s earnings beat the consensus estimate in three of the trailing four quarters and missed once, the average surprise being 9.27%. Apollo Global Management Inc. Price and EPS Surprise Apollo Global Management Inc. price-eps-surprise | Apollo Global Management Inc. Quote The Zacks Consensus Estimate for APO’s earnings of $1.98 has been unchanged over the past seven days. The figure indicates a rise of 8.8% from the year-ago quarter’s actual. The consensus estimate for sales is pegged at $1.22 billion, suggesting a year-over-year rise of 24.8%. Supported by overall asset inflows on the back of volatile markets, the company’s total AUM balance is expected to have improved. Also, its diversified asset classes, client bases and geographies are likely to have supported AUM growth in the quarter to be reported. The Zacks Consensus Estimate for the company’s total AUM in the first quarter of 2026 is pegged at $962.9 billion, which suggests a sequential rise of 2.7%. The consensus estimate for management fees (segment earnings) is pegged at $957 million, indicating a sequential rise of 1.6%. In the first quarter of 2026, the consensus estimate for fee-related performance fees (segment earnings) is pegged at $74.9 million, indicating a rise of 1.4% from the previous quarter’s reported number. The consensus estimate for net capital solutions fees and other (segment earnings) is pinned at $190.3 million, indicating a sequential decline of 15.8%. On the cost front, the company’s ongoing investments in building its capital formation and credit investing teams, along with charges related to mergers, are likely to have kept the expense base elevated in the first quarter. Our proven model does not conclusively predict an earnings beat for APO this time around. This is because the company does not have the right combination of the two key elements, a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can...

KKR & Co. Inc. KKR is slated to report first-quarter 2026 results on May 5, 2026, before the opening bell. Its earnings and revenues in the quarter are expected to have increased year over year. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate. Its results were adversely affected by an increase in expenses. Nonetheless, growth in assets under management (AUM) and fee-paying AUM acted as tailwinds. The company boasts an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average beat being 2.12%. KKR & Co. Inc. price-eps-surprise | KKR & Co. Inc. Quote The Zacks Consensus Estimate for earnings for the first quarter of 2026 is pegged at $1.28 per share, which has been revised downward over the past month. The figure indicates an increase of 11.3% from the year-ago quarter’s reported number. The consensus estimate for sales for the first quarter of 2026 is pegged at $1.43 billion, reflecting a 19.1% year-over-year increase. In February 2026, KKR announced an agreement to acquire Arctos Partners for $1.4 billion, expanding its presence in sports franchise investing and GP solutions. The deal adds Arctos’ roughly $15 billion AUM platform and strengthens KKR’s exposure to long-duration capital strategies. It is also expected to support the launch of KKR Solutions, an integrated platform combining sports investing, GP solutions and secondaries, which could scale to more than $100 billion in AUM over time. Earlier, in January 2026, the company also divested several business units of Janney Montgomery Scott LLC, a financial services firm in which it holds a majority stake, to Huntington Bancshares (HBAN). The transaction with HBAN allows KKR to monetize non-core assets while sharpening its focus on its core alternative investment and asset management businesses. Now, let us discuss the factors that are likely to have influenced KKR’s first-quarter performance. KKR has been witnessing increases in fee-earning AUM and total AUM, driven by its diversified product and revenue mix, superior position in the alternative investments space and net inflows. Given the increased client activity in the first quarter, KKR is expected to have recorded a rise in AUM balance as inflows strengthened. The Zacks Consensus Estimate for AUM is pegg...

One of the largest and most well-known asset management stocks — BlackRock BLK — kicked off first-quarter earnings on April 14. BLK handily surpassed the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) balance more than offset a rise in total expenses. Since then, many other asset managers came out with quarterly numbers, reflecting solid performance. We are using our proprietary methodology to find stocks that are poised to outpace the Zacks Consensus Estimate in the quarter. By using the Zacks Stock Screener, we have identified three such asset management stocks —Federated Hermes FHI, Affiliated Managers Group AMG and Victory Capital Holdings VCTR. These stocks have the ideal combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — to surpass expectations. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. Our proprietary methodology, Earnings ESP, shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Research shows that for stocks with this combination of rank and ESP, chances of a positive earnings surprise are as high as 70%. Before we go into the details regarding the above-mentioned asset managers, let us understand the factors that are likely to have influenced their quarterly performances. In the January-March quarter, the S&P 500 Index fell 4.9%, signaling a volatile market performance. Subdued performance was largely due to geopolitical tensions (mainly the Middle East conflict) and AI-driven disruption. The fixed-income market performance was mixed but more resilient than equities. As such, industry players’ AUM is likely to have witnessed decent growth, while the private credit market weakness is likely to have weighed on AUM expansion. On the cost front, as industry players are constantly trying to upgrade technology to keep up with evolving customer needs, technology-related costs are expected to keep rising. Using AI and machine learning to enhance operational efficiencies may lead to increased expenses in the short term, but will ultimately support investment managers' operating margins in the long run. The Zacks Finance sector’s (of which asset management is part) earnings are projected to rise 27.3% year over year in the first quarter of 2026. This compares with the 17.3% i...

Ameriprise Financial’s AMP first-quarter 2026 adjusted operating earnings were a record $11.26 per share, which handily surpassed the Zacks Consensus Estimate of $10.20. The bottom line reflected a rise of 19% from the year-ago quarter. Results benefited from higher revenues and improvements in the assets under management (AUM) and assets under administration (AUA) balances. However, an increase in expenses was a headwind. After considering significant items, net income (GAAP basis) was $915 million or $9.68 per share, up from $583 million or $5.83 per share in the prior-year quarter. Adjusted operating total net revenues in the reported quarter were $4.77 billion, increasing 11% year over year. The top line beat the Zacks Consensus Estimate of $4.67 billion. Total GAAP net revenues were $4.81 billion, up 11% year over year. Adjusted operating expenses totaled $3.44 billion, rising 9% year over year. As of March 31, 2026, total AUM and AUA were $1.67 trillion, up 12% year over year. The company repurchased 1.6 million shares for $784 million in the reported quarter. Ameriprise is well-positioned for impressive top-line growth on the back of its robust AUM balance and business-restructuring initiatives. However, elevated expenses (mainly due to technology upgrades) will likely continue to hurt the bottom line. Ameriprise Financial, Inc. price-consensus-eps-surprise-chart | Ameriprise Financial, Inc. Quote AMP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. BlackRock’s BLK first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10.9% rise from the year-ago quarter. BLK’s results benefited from a rise in revenues. The AUM balance witnessed robust year-over-year growth, driven by net inflows. However, higher expenses created a headwind. Blackstone’s BX first-quarter 2026 distributable earnings of $1.36 per share surpassed the Zacks Consensus Estimate of $1.33. The figure jumped 25% from the prior-year quarter. BX’s results benefited from a rise in AUM balance and higher revenues. However, an increase in GAAP expenses was the undermining factor. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Blackstone In...

SEI Investments Co.’s SEIC first-quarter 2026 adjusted earnings per share of $1.44 surpassed the Zacks Consensus Estimate of $1.29. Moreover, the bottom line reflected a rise of 21% from the prior-year quarter. Results were aided by higher revenues and a rise in assets under management (AUM) and the first full-quarter contribution from the Stratos acquisition. However, higher expenses acted as a spoilsport. Results excluded intangible assets, amortization and impairment charges. After considering this, net income attributable to SEI Investments was $174.5 million, up 15.2% from the year-ago quarter. Total quarterly revenues were $622.2 million, up 12.8% year over year. The rise was driven by higher asset management, administration and distribution fees, as well as information processing and software servicing fees. The top line beat the Zacks Consensus Estimate of $610.8 million. Total expenses were $432.7 million, up 9.8% year over year. The increase was driven by a rise in almost all cost components, except for consulting, outsourcing and professional fees, and depreciation charges. Operating income (GAAP) rose 20.6% year over year to $189.5 million, which excludes the impact of intangible assets amortization and impairments. Including this, adjusted operating income increased 23.8% to $198.7 million. As of March 31, 2026, AUM was $554.1 billion, reflecting a rise of 14% from the prior-year quarter. Client assets under administration (AUA) were $1.29 trillion, up 19.3%. Client AUA did not include $13.3 billion related to Funds of Funds assets reported as of March 31, 2026. In the reported quarter, SEIC bought back 2.6 million shares for $208.3 million at an average price of $81.55 per share. SEI Investments’ global presence, diverse product offerings, solid balance sheet, expanding margins and a robust AUM balance are expected to keep supporting the top line. However, elevated operating expenses and continued investment in technology and integration initiatives are concerning. SEI Investments Company price-consensus-eps-surprise-chart | SEI Investments Company Quote Currently, SEI Investments carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. BlackRock’s BLK first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10...

Blackstone’s BX first-quarter 2026 distributable earnings of $1.36 per share surpassed the Zacks Consensus Estimate of $1.33. The figure soared 25% from the prior-year quarter. Results benefited from a rise in assets under management (AUM) balance and higher revenues. However, an increase in GAAP expenses was the undermining factor. Net income attributable to Blackstone was $649.7 million, rising 5.7% from the year-ago quarter. Total segment revenues for the reported quarter were $3.43 billion, jumping 24% year over year. The top line beat the Zacks Consensus Estimate of $3.32 billion. On a GAAP basis, revenues were $3.62 billion, which grew 10%. Total expenses (GAAP basis) were $2.26 billion, up 19.4% year over year. As of March 31, 2026, Blackstone had $11.4 billion in total cash, cash equivalents and corporate treasury investments, and $21.3 billion in cash and net investments. The company has a $4.3-billion credit revolver. Fee-earning AUM grew 9% year over year to $937.6 billion as of March 31, 2026. The total AUM amounted to $1.3 trillion, up 12%. The rise in total AUM was primarily driven by $68.5 billion in inflows in the reported quarter. As of March 31, 2026, the undrawn capital available for investment was $213.3 billion. During the reported quarter, Blackstone repurchased 0.2 million shares. Blackstone is well-positioned for top-line growth, supported by a continuous rise in AUM. The company is expected to keep gaining from its fundraising ability. However, elevated expenses, private credit-related concerns and a challenging operating backdrop are likely to hurt the bottom line in the near term. Blackstone Inc. price-consensus-eps-surprise-chart | Blackstone Inc. Quote Currently, Blackstone carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. BlackRock’s BLK first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10.9% rise from the year-ago quarter. Results benefited from a rise in revenues. AUM balance witnessed robust year-over-year growth, driven by net inflows. However, higher expenses was a headwind for BLK. Invesco IVZ is scheduled to report first-quarter 2026 results on April 28. Over the past 30 days, the Zacks Consensus Estimate for Invesco’s quarterly earnings has been revised north to 59 cents. T...