BlackRock, Inc. (BLK) Holdings Maintained by Hedeker Wealth LLC
Hedeker Wealth LLC continued to hold its position in shares of BlackRock, Inc. (NYSE:BLK) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,750 shares of the asset manager’s stock at the end of the second quarter. Hedeker Wealth LLC’s holdings in BlackRock were worth $739,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in BLK. BlackRock Inc. increased its stake in shares of BlackRock by 2,775.4% during the 1st quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after purchasing an additional 6,314,004 shares during the last quarter. Harbour Capital Advisors LLC grew its stake in BlackRock by 38,807.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock valued at $2,848,000 after buying an additional 1,199,932 shares during the last quarter. UBS Group AG grew its stake in BlackRock by 40.2% in the 1st quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after buying an additional 486,502 shares during the last quarter. Principal Financial Group Inc. grew its stake in BlackRock by 207.1% in the 2nd quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock valued at $222,771,000 after buying an additional 355,630 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in BlackRock by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after buying an additional 250,431 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
A number of brokerages recently commented on BLK. Jefferies Group LLC reiterated a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Morgan Stanley reiterated an “overweight” rating and issued a $476.00 price target (up previously from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a research note on Tuesday, June 20th. Finally, Deutsche Bank AG upped their price target on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $449.08.
BlackRock, Inc. (BLK) opened at 432.39 on Wednesday. The firm has a 50-day moving average of $422.45 and a 200 day moving average of $406.87. The firm has a market capitalization of $70.14 billion, a PE ratio of 20.75 and a beta of 1.71. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the company posted $4.78 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post $21.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is 47.98%.
In related news, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeff A. Smith sold 250 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,447 shares of company stock worth $1,855,015 over the last three months. 1.86% of the stock is currently owned by insiders.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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