BlackRock, Inc. (BLK) Shares Bought by Harfst & Associates Inc.
Harfst & Associates Inc. lifted its position in BlackRock, Inc. (NYSE:BLK) by 17.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 265 shares of the asset manager’s stock after purchasing an additional 39 shares during the quarter. Harfst & Associates Inc.’s holdings in BlackRock were worth $111,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its stake in BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares during the period. Enterprise Financial Services Corp grew its position in BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares in the last quarter. Penserra Capital Management LLC purchased a new position in BlackRock during the second quarter worth about $104,000. Kings Point Capital Management grew its position in BlackRock by 34.5% during 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 in the last quarter. Finally, Financial Architects Inc grew its position in BlackRock by 0.7% during 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 in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.
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A number of equities analysts have weighed in on the company. Bank of America Corporation restated a “buy” rating and issued a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a research report on Tuesday, June 20th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG lifted their price target on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a report on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $456.54.
Shares of BlackRock, Inc. (NYSE:BLK) opened at 449.95 on Tuesday. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $450.49. The stock has a market cap of $72.99 billion, a PE ratio of 21.60 and a beta of 1.72. The stock has a 50 day moving average of $425.70 and a 200-day moving average of $410.38.
BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.78 earnings per share. Equities research analysts predict that BlackRock, Inc. will post $21.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were given a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, August 31st. BlackRock’s dividend payout ratio is presently 47.98%.
In related news, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Insiders sold 4,447 shares of company stock worth $1,855,015 in the last 90 days. 1.86% of the stock is currently owned by company insiders.
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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