BlackRock manages separate client-focused equity, fixed income and balanced portfolios. It also launches and manages open-end and closed-end mutual funds, offshore funds, unit trusts and alternative investment vehicles, including structured funds. The firm launches equity, fixed-income, balanced and real estate mutual funds. It also launches equity, fixed income, balanced, currency, commodity and multi-asset exchange-traded funds. The firm launches and manages hedge funds, and it invests in the public equity, fixed-income, real estate, currency, commodity and alternative markets across the globe.
BlackRock primarily invests in growth and value stocks of small-cap, mid-cap, large-cap and multi-cap companies. It also invests in dividend-paying equity securities. The firm invests in investment-grade municipal securities, government securities (including securities issued or guaranteed by a government or a government agency or instrumentality), corporate bonds and asset-backed and mortgage-backed securities. It employs fundamental and quantitative analysis with a focus on a bottom-up and top-down approach to make its investments. The firm employs liquidity, asset allocation, balanced, real estate and alternative strategies to make its investments. In the real estate sector, it seeks to invest in Poland and Germany.
BlackRock’s reported adjusted profit of $7.93 per share topped the consensus estimate. Net inflows for the first quarter were at $110 billion, up from $86 billion a year earlier.
Investors receive a 2.89% dividend. BofA Securities has set its target price at $868, but BlackRock stock has a consensus target of just $786. The shares closed on Friday at $691.33.
Citigroup
This top bank stock has rallied nicely off the lows, and Warren Buffett bought $2.5 billion worth of the shares last summer. Citigroup Inc. (NYSE: C) is a leading global diversified financial service company that provides consumers, corporations and governments a broad range of financial products and services.
The company offers services such as consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. And it operates and does business in more than 160 countries and jurisdictions in North America, Latin America, Asia and elsewhere.
Trading at a still very cheap 7.0 times estimated 2023 earnings, this stock looks very reasonable in what remains a volatile stock market and in a sector that has dramatically lagged. Its first-quarter earnings and revenue each surpassed Wall Street expectations, thanks to a rise in fixed-income trading.
Citigroup stock comes with a 4.12% dividend. Oppenheimer’s $75 price target is a Wall Street high. The consensus target is $55.88. Friday’s $49.56 close was up almost 5% for the day on the strong results.
JPMorgan
This stock trades at a still reasonable 12.0 times estimated 2023 earnings. JPMorgan Chase & Co. (NYSE: JPM) is one of the leading global financial services firms and one of the largest banking institutions in the United States, with about $2.6 trillion in assets. The company as it is today was formed through the merger of retail bank Chase Manhattan and investment bank J.P. Morgan.
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