Stock price when the opinion was issued
BLK is one of the largest asset managers in the world. The company has managed to grow its revenue consistently over the years, driven mainly by organic growth. BLK is a dividend machine with a very stable and consistent track record of raising dividends over the years.
That being said, BLK is trading at 22x Forward P/E - the higher end of its historical multiple, which has ranged from 15.6x to 22x over the last few years. We would not be too aggressive in purchasing here and would be nimble and prefer to add to the position over time as opportunities present themselves.
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Track record of stock performance has been excellent. Largest asset manager in the world. Does not see the asset base declining - will only grow. Very strong management team with good capital allocation skills. New products always being added to the mix.