BlackRock, Inc. (BLK) Shares Bought by Berkshire Asset Management LLC PA
Berkshire Asset Management LLC PA increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 663 shares of the asset manager’s stock after buying an additional 5 shares during the period. Berkshire Asset Management LLC PA’s holdings in BlackRock were worth $280,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Proficio Capital Partners LLC boosted its position in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the last quarter. Kings Point Capital Management boosted its stake in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of BlackRock during the first quarter worth approximately $108,000. Peoples Financial Services CORP. acquired a new stake in shares of BlackRock during the first quarter worth approximately $115,000. Finally, Financial Architects Inc boosted its stake in shares of BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after buying an additional 2 shares during the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) traded down 1.62% during mid-day trading on Thursday, reaching $424.37. 196,008 shares of the company were exchanged. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83. The stock has a market capitalization of $68.84 billion, a price-to-earnings ratio of 20.37 and a beta of 1.71. The stock has a 50 day moving average of $427.95 and a 200-day moving average of $399.18.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the firm earned $4.78 EPS. BlackRock’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
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A number of analysts recently commented on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Friday, July 14th. Morgan Stanley restated an “overweight” rating and set a $460.00 price target (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Wells Fargo & Company restated a “market perform” rating and set a $425.00 price target (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. 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. Finally, 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. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $434.93.
In other BlackRock news, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the transaction, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Mccombe sold 500 shares of BlackRock stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock worth $1,567,516 in the last ninety days. Insiders own 1.86% of the company’s stock.
BlackRock Company Profile
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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