BlackRock, Inc. (BLK) Shares Sold by Atlantic Trust Group LLC
Atlantic Trust Group LLC lowered its holdings in BlackRock, Inc. (NYSE:BLK) by 0.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,982 shares of the asset manager’s stock after selling 83 shares during the period. Atlantic Trust Group LLC owned approximately 0.18% of BlackRock worth $126,716,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after purchasing an additional 250,431 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after purchasing an additional 6,314,004 shares in the last quarter. State Street Corp lifted its holdings in shares of BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after purchasing an additional 112,993 shares in the last quarter. UBS Group AG lifted its holdings in shares of BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after purchasing an additional 486,502 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock valued at $597,206,000 after purchasing an additional 118,222 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.
In other BlackRock news, insider Jeff A. Smith sold 250 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,447 shares of company stock worth $1,855,015. Company insiders own 1.86% of the company’s stock.
BlackRock, Inc. (BLK) opened at 434.07 on Thursday. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84. The firm has a market capitalization of $70.41 billion, a P/E ratio of 20.83 and a beta of 1.71. The firm’s 50-day moving average is $422.45 and its 200 day moving average is $406.87.
BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.39 by ($0.15). BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company earned $4.78 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post $21.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.30%. BlackRock’s payout ratio is presently 47.98%.
Several analysts recently issued reports on the company. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley reiterated an “overweight” rating and set a $460.00 price objective (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $449.08.
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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