New York State Attorney General Eric Schneiderman said BlackRock's surveys would ask analysts about companies they followed and were frequently timed before the official release of publicly available opinions.
Under the program, BlackRock would combine survey responses with the publicly available analyst opinions to make investment decisions, Schneiderman said.
"To their credit, they recognized this was a problematic area and agreed to stop completely," Schneiderman said.
Top 10 Cheapest Stocks To Watch Right Now: BlackRock Inc (BLK)
BlackRock, Inc. (BlackRock) is an independent investment management firm. The Company provides a range of investment and risk management services. The Company serves its clients as a fiduciary, and derives all of its revenues from client business. It invests in capital markets globally. Its clients include taxable, tax-exempt and official institutions (including pension funds, endowments, insurance companies, corporations, financial institutions, central banks and sovereign wealth funds) as well as retail investors and high net worth individuals. Its product range includes single- and multi-asset class portfolios investing in equities, fixed income, alternatives and/or money market instruments. It offer its products directly and through intermediaries in a range of vehicles, including open-end and closed-end mutual funds, iShares exchange-traded funds (ETFs) and other exchange-traded products ( ETPs), collective investment funds and separate accounts. The Company also offers its BlackRock Solutions (BRS) investment systems, risk management and advisory services to institutional investors. In March 2012, it acquired Claymore Investments, Inc. from Guggenheim Partners, LLC.
Equity and Fixed Income
Equity and fixed income assets under management (AUM) include a range of active and passive strategies. Merger-related outflows in equities and fixed income, respectively, due to manager concentration.
Multi-Asset Class
BlackRock�� multi-asset class team manages a range of bespoke mandates. Investment solutions include a combination of long-only portfolios and alternative investments, as well as tactical asset allocation overlays. As of December 31, 2011, institutional investors represented 63% of multi-asset class AUM, while retail and high net worth investors accounted for 37%. Flows were almost evenly split as well. During the year ended December 31, 2011, with 55% of multi-asset class AUM managed for clients based in the Americas, 38% in Europe, the Mi! ddle East and Africa (EMEA) and 7% in Asia-Pacific. As of December 31, 2011, asset allocation and balanced products represented 56% of multi-asset class AUM. As of December 31, 2011, fiduciary management services accounted for 22% of multi-asset class AUM. As of December 31, 2011, target date and target risk funds is 22% of multi-asset class AUM.
Alternative Investments
As of December 31, 2011, the alternative investment client base was predominantly institutional, representing 73% of alternatives AUM with retail and high net worth investors comprising an additional 9% of AUM. As of December31, 2011, iShares consisted 18% of ending AUM. The geographic mix was well diversified, with 56% of AUM managed for clients in the Americas, 22% for clients in EMEA and 22% for clients in Asia-Pacific. The BlackRock Alternative Investors (BAI) group coordinates its alternative investment efforts, including product management, business development and client service. The products offered under the BAI umbrella are: core, which includes hedge funds, funds of funds and real estate offerings, and currency and commodities. Offerings include high yield debt and core, value-added and opportunistic equity portfolios. It also offers open-end hedge funds and similar products and closed-end funds. These products include a range of active and passive products managed through institutional separate accounts.
Cash Management and Securities Lending
Cash management products include taxable and tax-exempt money market funds and customized separate accounts. Portfolios may be denominated in the United States dollar, euro or pound sterling. As of December 31, 20110, its cash management clientele is institutional, with 84% of cash AUM managed for institutions and 16% for retail and high net worth investors. The investor base was also domestic, with 70% managed for investors in the Americas and 30% for clients in other regions, almost all EMEA-based.
Active Strategies
! The Company offers two types of active strategies: those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive security selection and portfolio construction. As of December 31, 2011, active long-term AUM consisted of 23% equities, 52% fixed income, 18% multi-asset and 7% alternatives.
Active Equity
A range of products are offered, including global and regional portfolios; value, growth and core products; large, mid and small cap strategies, and selected sector funds. BlackRock manages active equity portfolios for a range of institutional and retail and high net worth investors globally. Approximately 48% of its active equity AUM was managed for investors based in the Americas, 38% in EMEA and 14% in Asia-Pacific.
Active Fixed Income
Fixed income mandates are tailored to client-specified liabilities, accounting, regulatory or rating agency requirements, or other investment policies. As of December 31, 2011, of BlackRock�� total active fixed income AUM, 81% was managed on behalf of institutional investors and 19% for retail and high net worth investors. The client base reflects 70% of active fixed income AUM managed for investors in the Americas, 21% for EMEA domiciled clients, and 9% for investors in the Asia-Pacific region.
Multi-Asset and Alternatives
During 2011, 97% of AUM in multi-asset class mandates, and 76% of AUM in alternative investments are managed in active strategies. As of December 31, 2011, equity products consisted 64% of institutional index AUM. Fixed income products represented 35% of institutional index AUM. Less than 1% of institutional index AUM is in alternatives or multi-asset class products.
iShares / ETPs
During 2011, the Company introduced 45 new ETPs, maintaining dual commitment innovation and responsible product structuring. Its product range offers investors the building blocks required to assemble diversified portfolio! s. As of ! December 31, 2011, its iShares product mix included 71%, in equity offerings, and 26%, in fixed income ETPs and 3%, in multi-asset class and alternative investments. In addition, the Company is an ETF manager in Mexico and has products in Chile, Peru, Brazil, Australia, Hong Kong and Japan. In addition, the Company is the ETP manager in Latin America.
BlackRock Solutions
BlackRock offers investment systems, risk management, outsourcing and advisory services under the BlackRock Solutions brand name. Its Aladdin operating platform serves as the investment system for BlackRock and institutional investors globally. BRS also offers comprehensive risk reporting through the Green Package and risk management advisory services, interactive fixed income analytics through its Web-based calculator, AnSer, middle and back office outsourcing services and investment accounting. Clients have also retained BRS��Financial Markets Advisory (FMA) group for a range of engagements, such as valuation and risk assessment of illiquid assets, portfolio restructuring, workouts and dispositions of distressed assets and financial and balance sheet strategies.
Transition Management Services
BlackRock also offers transition management services, involving the temporary oversight of a client�� assets as they transition from one manager to another or from one strategy to another. It provides service that includes project management and implementation based on achieving execution consistent with the client�� risk management tolerances. The average transition assignment is executed within three weeks. These portfolios are not included in AUM unless BlackRock has been retained to manage the assets after the transition phase.
Risk & Quantitative Analysis
Across all asset classes, the Risk & Quantitative Analysis (RQA) group at BlackRock provides risk management advice and independent risk oversight of the investment management processes, identifies and hel! ps manage! counterparty and operational risks, coordinates standards for firm wide investment performance measurement and determines risk management-related analytical and information requirements.
Advisors' Opinion:- [By Wallace Witkowski]
Also 52 S&P 500 components release results with significant reports filling out the tech and financial sectors. Companies include Google (GOOG) (GOOGL) , Yahoo Inc. (YHOO) , Bank of America Corp. (BAC) , Citigroup Inc. (C) , Morgan Stanley (MS) , and BlackRock Inc. (BLK)
- [By Patrick Morris]
This all comes just days after BlackRock (NYSE: BLK ) joined the two largest money market mutual funds,�JPMorgan Chase (NYSE: JPM ) and Fidelity, in announcing they had sold their short-term holdings of U.S. Treasuries that would come due around the time of a potential default.
- [By Monica Gerson]
BlackRock (NYSE: BLK) is projected to report its Q1 earnings at $4.14 per share on revenue of $2.66 billion.
Morgan Stanley (NYSE: MS) is estimated to report its Q1 earnings at $0.60 per share on revenue of $8.52 billion.
10 Best Financial Stocks To Buy Right Now: National Western Life Insurance Company(NWLI)
National Western Life Insurance Company provides life insurance products for the savings and protection needs of policyholders and annuity contracts for the asset accumulation and retirement needs of contract holders. Its life products include universal life insurance and interest-sensitive whole life, as well as traditional products, such as term insurance coverage; and annuity products comprise flexible premium and single premium deferred annuities, fixed indexed annuities, and single premium immediate annuities. The company markets and distributes its insurance products primarily through independent national marketing organizations to residents of various countries in central and South America, the Caribbean, the Pacific Rim, eastern Europe, and Asia. It also engages in small real estate, nursing home, and other investment operations. The company was founded in 1956 and is based in Austin, Texas.
Advisors' Opinion:- [By Brian Pacampara]
Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, life insurance company National Western Life Insurance Company (NASDAQ: NWLI ) has earned a coveted five-star ranking.
- [By David Merkel]
The two stocks in question are Stancorp Financial (SFG) and National Western Life Insurance (NWLI). The short cases for both are based on a naive view of how insurance companies work.
10 Best Financial Stocks To Buy Right Now: RLJ Lodging Trust(RLJ)
RLJ Lodging Trust is an independent equity real estate investment trust. The firm also manages real estate funds. It invests in the real estate markets of the United States. The firm primarily invests in premium-branded, focused service, and compact full-service hotels. RLJ Lodging Trust was launched in 2000 and is domiciled in Bethesda, Maryland.
Advisors' Opinion:- [By Markus Aarnio]
American Hotel Income Properties' competitors include Hospitality Properties Trust (HPT), RLJ Lodging Trust (RLJ), and Hersha Hospitality Trust (HT).
10 Best Financial Stocks To Buy Right Now: Trulia Inc (TRLA)
Trulia, Inc. is a real estate search engine company. The Company helps in finding homes for sale and provides real estate information. The Company is also a tool for real estate professionals to market their listings, view real estate data and promote their services. It provides local information, community insights, market data and national listings. Effective August 20, 2013, Trulia Inc acquired the entire interest of Market Leader Inc.
Trulia.com is an online real estate site focused on buyers, sellers and renters with tools to help them find the right home. The Company�� Website, www.trulia.com, is a search engine for buying and renting homes, advising homes and mortgages. The Company is headquartered in downtown San Francisco and is backed by Accel Partners and Sequoia Capital.
Advisors' Opinion:- [By Lee Jackson]
Trulia Inc. (NYSE: TRLA) was very bullish at the conference, citing very strong traffic trends. In fact its CFO said it has a waiting list for customers in sold-out markets and it was ��assive.��The Deutsche Bank target price is set at $50, the same as the consensus target.
- [By MONEYMORNING.COM]
Real estate websites Zillow Inc. (Nasdaq: Z) and Trulia Inc. (NYSE: TRLA) saw their stocks soar yesterday (Thursday) on rumors that the sector's top two leaders would merge. Z stock surged more than 15.3% to $145.76 and TRLA roared ahead 32.4% to $53.74 after the deal news broke.
10 Best Financial Stocks To Buy Right Now: J. W. Mays Inc.(MAYS)
J.W. Mays, Inc. owns and operates commercial real estate properties in the United States. Its properties are located in Brooklyn, Jamaica, Levittown, Massapequa, and Fishkill, New York, as well as in Circleville, Ohio. The company was founded in 1924 and is based in Brooklyn, New York.
Advisors' Opinion:- [By Geoff Gannon] is trading around book value your next step is to figure out how book value is calculated.
The reason a company trading below book value is interesting has to do with accounting. In the U.S., you don�� mark up the book value of land and many other potentially valuable assets just because you have evidence ��like an appraisal, comparable sale, etc. ��that the market value is now higher than your original cost.
So, there will be situations where knowing how a company accounts for its assets and knowing the stock trades for less than book value can help direct you to companies selling for less than they are worth.
DreamWorks is a movie studio. So it is using a rather subjective estimate of the ultimate revenue a movie will produce. It is then amortizing the cost of the movie as revenue comes in to the company in proportion to the percentage of revenue this represents relative to expected total revenue the movie will produce.
For very old movies, it�� actually a little different. And for flops it�� different. DreamWorks can write off flops. And it can�� expect the ultimate revenue for a movie to be higher to the extent such revenue comes more than 10 years after the film�� release.
In other words, DreamWorks has to fully amortize a movie within 10 years and disregard the value an 11-year-old movie might have.
This is explained in a note to the company�� 10-K. It is very important for Ben Graham-type investors to read all these notes carefully ��but especially the notes on depreciation and amortization:
Once a film, television special/series or live performance is released, capitalized productions costs are amortized and participations and residual costs are accrued on an individual title basis in the proportion that the revenue during the period for each title (��urrent Revenue�� bears to the estimated remaining total revenue to be recognized from all sources for each title (��ltimate Revenue��. The amo
10 Best Financial Stocks To Buy Right Now: Apollo Global Management LLC(APO)
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to pension and endowment funds, institutional investors, individual investors, pooled investment vehicles, and corporations. It manages client focused portfolios, hedge funds, real estate funds, and private equity funds for its clients. The firm invests in the fixed income and alternative investment markets across the globe. Its alternative investments include investment in private equity and real estate markets. The firm's private equity investments include traditional buyouts, distressed buyouts and debt investments, corporate partner buyouts, distressed asset, turnaround, corporate restructuring, special situation, acquisition, and industry consolidation transactions. Its fixed income investments include distressed debt, senior bank loans, and value oriented fixed income securities. The firm seeks to invest in chemicals; commodities; consumer and retail; oil an d gas, metals, mining, agriculture, commodities, distribution and transportation; financial and business services; manufacturing and industrial; media distribution, cable, entertainment, and leisure; energy, packaging and materials; and satellite and wireless. It seeks to invest in companies based in across North America with a focus on United States, and Europe. The firm employs a combination of contrarian, value, and distressed strategies to make its investments. It conducts an in-house research to create its investment portfolio. The firm seeks to acquire minority positions in its portfolio companies. Apollo Global Management, LLC was founded in 1990 and is headquartered in New York, New York with nine additional offices in North America, Europe, and Asia.
Advisors' Opinion:- [By Eric Volkman]
A sizable bloc of Rexnord (NYSE: RXN ) will soon be in different hands if a secondary offering goes as planned. The company announced that "certain funds affiliated with" Apollo Global Management (NYSE: APO ) are floating a 6.5 million-share stake in an underwritten public offering. The price is $16 per share. Additionally, the company's underwriters have been granted a purchase option for up to an additional 975,000 shares.
- [By Matt Jarzemsky]
With shares of Sprouts Farmers Markets Inc.(SFM) having more than doubled in price in just four months since their $383 million initial public offering, a group of its financial backers led by Apollo Global Management LLC(APO) are cashing out with an offering of more than double that size.
- [By Chad Tracy]
In 2008, Apollo Global Management (NYSE: APO) co-founder Joshua Harris was on a losing streak.
The firm's $430 million investment in big-box retailer Linens N' Things went south when the company filed for bankruptcy.
- [By Hibah Yousuf]
CEC Entertainment, (CEC) the owner of Chuck E. Cheese, announced that private equity firm Apollo Global Management (APO) was buying it for $1.3 billion.
10 Best Financial Stocks To Buy Right Now: Northrim BanCorp Inc(NRIM)
Northrim BanCorp, Inc., through its subsidiaries, which provides a range of banking products and services to businesses, professionals, and individuals in Alaska. Its deposit services include noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts. The company?s loan portfolio comprises commercial and real estate lending, construction and land development lending, and consumer loans. Northrim BanCorp also offers other customer services, including telebanking, faxed account statements, Internet banking, automated teller services, personalized checks at account opening, overdraft protection from a savings account, extended banking hours, commercial drive-up banking with coin service, automatic transfers and payments, wire transfers, direct payroll deposit, electronic tax payments, automated clearing house origination and receipt, and cash management services. In addition, it provides investment advisory, insurance br okerage, trust, and wealth management services. As of December 31, 2009, the company operated 11 branches, including 7 in Anchorage, 2 in Fairbanks, and 1 each in Eagle River and Wasilla. Northrim BanCorp, Inc. was founded in 1990 and is headquartered in Anchorage, Alaska.
Advisors' Opinion:- [By GURUFOCUS]
Northrim BanCorp Inc. (NRIM) operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses, professionals, and individuals primarily in Alaska. August 16th the company increased its quarterly dividend 13% to $0.17 per share. The dividend is payable Sept. 13 to shareholders of record as of the close of business on Sept. 5, 2013. The yield based on the new payout is 2.8%.
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