BlackRock (NYSE:BLK) stock closed with a 5.2% gain after the company reported a strong fourth quarter for 2024, surpassing expectations largely due to performance fees, managed expenses, and a favorable tax rate.

Sycamore Advisors adds two quantitative experts, PFM boosts its workforce consulting team and more talent shifts in December.

BlackRock said in its fourth-quarter earnings report Wednesday that assets under management jumped to a record $11.55 trillion, up from $10 trillion a year ago. Analysts surveyed by FactSet had expected BlackRock to report a record $11.

BlackRock reported fourth-quarter earnings per share of $10.63. On an adjusted basis, per-share earnings of $11.93 topped analysts’ forecasts of $11.24. The world’s largest asset manager reported net income of $1.

BlackRock’s profits rose and assets under management edged up to a record $11.55 trillion in the fourth quarter. BlackRock posted net income of $1.67 billion, up 21% from the same period a year earlier.

Citi wealth head Andy Sieg told employees that net new investment assets — which surged last year — are the division's "North Star."

Citigroup CMO and Chief Content Officer Alex Craddock noted that sports remains an integral part of the company’s marketing strategy going forward.

As investors await earnings from the big banks, they've just gotten the latest results from BlackRock. The company said $284 billion flowed into its total assets under management (AUM), which amounted to $11.

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AdvisorNet Financial Inc trimmed its holdings in BlackRock, Inc. (NYSE:BLK – Free Report) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 625 shares of the asset manager’s stock after selling 42 shares during the quarter.