Top Financial Stocks
Financial stocks were rising somewhat from their session lows made earlier, with the NYSE Financial Sector Index sinking almost 2.9% and the S&P Financial 100 Index falling more than 2.4%.
In company news, BlackRock ( BLK ) dropped Friday after the investment manager reported Q4 net income trailing analyst expectations.
Excluding one-time items, the company earned $4.75 per share, lagging the Capital IQ consensus by $0.06 per share. Revenue rose 2.8% over year-ago levels to $2.86 billion, roughly in-line with the $2.84 billion consensus.
The firm also increased its quarterly distribution by 5% over its previous dividend, with plans to pay $2.29 per share of common stock on March 23 to shareholders of record on March 7.
BLK shares were down nearly 4% at $298.02 apiece, bouncing back from a prior drop to $290.46 a share.
In other sector news,
(+) GLBZ, Increases quarterly dividend by 42.8% over prior distribution to $0.10 per share, payable Jan. 29 to shareholders of record on Jan. 18.
(-) AHP, Sessa Capital nominates five director candidates to its board, citing “corporate governance failures (that) have been an unshakable burden” on the company.
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