BlackRock, Inc. (BLK) Shares Sold by Franklin Resources Inc.
Franklin Resources Inc. reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 16.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 711,196 shares of the asset manager’s stock after selling 136,866 shares during the quarter. Franklin Resources Inc. owned 0.44% of BlackRock worth $300,416,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Enterprise Financial Services Corp boosted its stake in shares of BlackRock by 52.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of BlackRock during the 2nd quarter valued at approximately $104,000. Proficio Capital Partners LLC boosted its stake in shares of BlackRock by 48.9% during the 1st 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 last quarter. Kings Point Capital Management boosted its stake in shares of BlackRock by 34.5% during the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares during the last quarter. Finally, Financial Architects Inc boosted its stake in shares of BlackRock by 0.7% during the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after buying an additional 2 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) opened at 435.49 on Friday. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84. The firm has a market capitalization of $70.64 billion, a price-to-earnings ratio of 20.90 and a beta of 1.71. The firm has a 50-day moving average price of $422.45 and a 200 day moving average price of $406.87.
BlackRock (NYSE:BLK) last announced its quarterly earnings results 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). The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. BlackRock’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.78 EPS. On average, analysts anticipate that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s dividend payout ratio is 47.98%.
In related news, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,447 shares of company stock worth $1,855,015. 1.86% of the stock is owned by insiders.
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BLK has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Bank of America Corporation restated a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Barclays PLC initiated coverage on BlackRock in a research note on Friday, September 8th. They set an “overweight” rating and a $475.00 price objective on the stock. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a research note on Tuesday, June 20th. Finally, Deutsche Bank AG raised their price objective on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target 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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