2023-04-20 09:15:00 ET
Asset management is a lucrative business model, regardless of the economic environment. That's because managing other people's money isn't accompanied by merchandise costs, and the overhead costs are reasonably low.
BlackRock (NYSE: BLK) stands out in a crowded field of asset managers as the largest player in the industry. But is the stock a buy for investors seeking significant passive income ? Let's dig into BlackRock's fundamentals and valuation to address this question.
Employing nearly 20,000 people as of last December, BlackRock has come a long way since its humble beginnings in 1988 with eight people in a single room. The company's $9.1 trillion in assets under management (AUM) as of March 31 positions it as $1 trillion larger than its next-biggest competitor, Vanguard.
For further details see:
Is This Dividend Stock a Buy for Income Investors Right Now?