BlackRock, Inc. (BLK) Stake Decreased by Smith Salley & Associates
Smith Salley & Associates decreased its stake in BlackRock, Inc. (NYSE:BLK) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,405 shares of the asset manager’s stock after selling 99 shares during the period. Smith Salley & Associates’ holdings in BlackRock were worth $1,016,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of BLK. Vanguard Group Inc. increased its stake in 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 buying an additional 250,431 shares in the last quarter. BlackRock Inc. increased its stake in 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 buying an additional 6,314,004 shares in the last quarter. State Street Corp increased its stake in 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 buying an additional 112,993 shares in the last quarter. Wells Fargo & Company MN increased its stake in BlackRock by 4.1% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock valued at $782,896,000 after buying an additional 80,433 shares in the last quarter. Finally, UBS Group AG increased its stake in 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 buying an additional 486,502 shares in the last quarter. 80.33% of the stock is owned by institutional investors and hedge funds.
BlackRock, Inc. (NYSE BLK) traded down 0.04% during trading on Wednesday, hitting $428.10. 154,181 shares of the stock were exchanged. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.83. The stock has a market capitalization of $69.44 billion, a price-to-earnings ratio of 20.55 and a beta of 1.71. The firm has a 50-day moving average of $428.32 and a 200-day moving average of $400.63.
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. The business had revenue of $2.97 billion during 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 company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.78 EPS. Equities research analysts anticipate that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be given a $2.50 dividend. 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 2.34%. BlackRock’s payout ratio is presently 47.98%.
Several analysts recently issued reports on BLK shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $440.00 price objective on shares of BlackRock in a report on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a report on Tuesday, June 20th. Deutsche Bank AG increased their price target on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $425.00 price target (up from $380.00) on shares of BlackRock in a report on Wednesday, July 12th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $434.93.
In other news, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the sale, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Mccombe sold 500 shares of the business’s stock in a transaction dated 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. In the last three months, insiders sold 3,772 shares of company stock valued at $1,567,516. 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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.