"Within the financial space, we own BlackRock ( BLK)," Wallace says.

BlackRock reported third-quarter earnings of $642 million, or $3.47 a share, increasing from $554 million, or $3.08 a share in the second quarter, and $595 million, or $3.23 a share, in the third quarter of 2011. Revenue grew 4% sequential and year-over-year, to $2.320 billion in the third quarter. Black Rock's third-quarter adjusted operating margin was 40.7%. The company bought back $1.3 billion in common shares during the first three quarters of 2012.

BlackRock's shares closed at $186.99 Friday, returning 8% year-to-date. Based on a quarterly payout of $1.50, the shares have a dividend yield of 3.21%. The shares trade for 13 times the consensus 2013 EPS estimate of $14.89.

-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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